Haldex recommends takeover by Knorr-Bremse to shareholders

George Barrow
November 11, 2016


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.

 

About the Author

George Barrow

George Barrow has been writing about nearly anything with wheels for the past 15 years, starting off his career in the car industry and ending up in commercial vehicles via a brief detour to cover technology, science and start-ups. Often found behind the wheel of a new product, his real interest lies in the business side of the automotive industry. George is the UK jury member of the International Van of the Year and International Pick-Up Award.

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