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Finland’s Kone KNEBV-1.09%decrease; red down pointing triangle agreed to buy German rival TK Elevator for almost $24 billion in a deal that would create the world’s biggest elevator maker by sales.

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Finnish lift maker Kone is set to acquire German rival TK Elevator for 29.4 billion euros. This deal will create the world's largest lift maker. Kone aims to expand its presence in the Americas. The ...