Finland-based lift maker Kone has agreed to acquire its German rival TK Elevator for €29.4 billion (₹3.26 lakh crore) in a cash and stock deal. The transaction will mark one of Europe's biggest-ever private equity exits and will be Finland's highest-valued company takeover in history. Kone will pay €5 billion (₹55,471 crore) in cash and issue 27 crore new shares.