Kone buying TK Elevator in lift mega-merger

• It's also the largest M&A transaction ever in Finland, and one of the largest exits for European private equity.

Zoom in: Kone will pay €5 billion in cash and around €15 billion of newly issued stock, with the headline price also including assumed debt.

• TK Elevator last month said it was considering strategic options that could include an IPO.
• The merger already has been slammed by a labor union official who also serves as deputy chair of TKE's ​supervisory board.

Catch up quick: Advent and Cinven carved TK Elevator out of Thyssenkrupp for €17.2 billion in 2020, beating out Kone and CVC Capital Partners.

• It was Europe's largest buyout since before the 2008-2009 financial crisis.