Thyssenkrupp shares jump after Kone buys TK Elevator

ThyssenKrupp AG

29/04/2026 09:55

Updates share move, adds milestone and analyst comments

** Shares in Thyssenkrupp TKAG.DE jump around 10% after Finnish lift maker Kone KNEBV.HE agrees to buy rival TK Elevator, in which the German industrial and steel company holds a 16.2% stake

** The transaction is valued at 29.4 billion euros ($34.4 billion), creating the world's largest lift maker

** J.P. Morgan says the deal is significantly a positive read-across for Thyssenkrupp

** "This would have a transformational impact on Thyssenkrupp's balance sheet," it adds

** A local trader says it is not unexpected news but should be supportive for the German company's shares

** The stock, which has gained 2.9% YTD including today's session, tracks for its best day since March 2025 if gains hold and is among the best performers on the pan-European STOXX 600 .STOXX index

($1 = 0.8548 euros)

 (Reporting by Ozan Ergenay)

 ((ozan.ergenay@thomsonreuters.com))