Finnish lift maker Kone has agreed to acquire German rival TK Elevator in a €29.4bn transaction, marking the largest corporate deal in Finland and set to reshape the global lift industry. Kone said the agreement will combine two of the world’s main lift and escalator groups, creating the largest operator in the sector by revenue and service base. The combined company would generate about €20.5bn in annual revenue and employ more than 100,000 people across more than 100 countries.