March 24 (Reuters) – Schindler would be ready to challenge a merger deal between rivals Kone and TK Elevator before antitrust authorities, the head of the Swiss lift maker told Reuters on Tuesday. Schindler CEO Paolo Compagna said a merger would be a “bloodbath” bound to disrupt the industry, as the world’s third- and fourth-largest […]
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Schindler ready to oppose potential Kone-TK Elevator merger, CEO says
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March 24 (Reuters) – Schindler would be ready to challenge a merger deal between rivals Kone and TK Elevator before antitrust authorities, the head of the Swiss lift maker told Reuters on Tuesday.
Schindler CEO Paolo Compagna said a merger would be a “bloodbath” bound to disrupt the industry, as the world’s third- and fourth-largest lift manufacturers would need to fit together overlapping customer bases, production sites and teams.
(Reporting by Bernadette Hogg in Gdansk; editing by Milla Nissi-Prussak and Matt Scuffham)