Kone nears $34 billion deal for rival TK Elevator, Bloomberg News reports

Kone ​is ​nearing a cash-and-stock ‌deal to ​buy German rival ‌TK Elevator, Bloomberg News reported on Tuesday, citing people familiar ‌with the matter.

The Finnish company ‌is putting the final touches on a deal with ⁠TK ​Elevator's ⁠owners Advent and Cinven, and ⁠an agreement could be announced as ​soon as Wednesday, valuing ⁠TK Elevator at about 29 ⁠billion ​euros ($33.97 billion) including debt, the report said.

Reuters ⁠could not immediately verify the ⁠report. ($1 = ⁠0.8538 euros)