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Market Chatter: Mitsubishi Electric, Fujitec Weigh Bids for TK Elevator's European Assets

MT Newswires Live
Oct 06

Mitsubishi Electric (TYO:6503) and Fujitec (TYO:6406) are among potential suitors eyeing TK Elevator's European operations, which Kone plans to sell to win antitrust approval for its takeover, Bloomberg News reported Tuesday.

The assets could bring in roughly 5 billion euros or more, with buyout firms also expected to show interest, the news wire said.

Kone agreed in April to acquire TK Elevator for 29.4 billion euros from Advent and Cinven, the publication said.

Mitsubishi, Fujitec, Kone and TK Elevator did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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