Published by Global Banking & Finance Review®
Posted on March 24, 2026
1 min readLast updated: March 24, 2026
Add as preferred source on GoogleSchindler’s CEO Paolo Compagna vowed to oppose any merger between Kone and TK Elevator, warning it would disrupt the industry and trigger antitrust challenges across multiple jurisdictions. Schindler may even pursue bolt‑on acquisitions if forced divestitures arise.
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)
Schindler believes the merger would disrupt the lift industry and raise antitrust issues due to overlapping customer bases and operations.
Bloomberg reported that the deal could be valued as high as 25 billion euros.
Schindler plans to challenge the merger before antitrust authorities in every relevant country.
No, Schindler's position remains firm since Kone's previous bid in 2019, continuing to raise antitrust concerns.
Yes, Schindler would consider buying any divested companies as part of its bolt-on acquisition strategy.
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