The board of Haldex has recommended a deal to buy the brake and suspension manufacturer, after the only other suitor, ZF Friedrichshafen, withdrew its offer for the company last month.
In a statement Haldex said that while its concerns in regards to CV brake manufacturer Knorr-Bremse gaining regulatory approval for a takeover remained, it “never questioned the financial merits of the cash consideration under any of the offers made for Haldex ever since ZF made its initial offer at SEK 100 (£8.72) per Haldex share”.
Haldex subsequently raised its offer to SEK 125 per Haldex share.
“On this basis, the board has decided to recommend the Haldex shareholders to accept the offer by Knorr-Bremse,” the statement said.
Haldex added that the deal remained subject to ZF receiving the required regulatory approval.
