Knorr-Bremse’s attempt to take over Swedish braking technology specialist Haldex has gone into the next round.
According to the German company, its public offer to the shareholders of Haldex – made in September 2016 after a long and arduous bidding war with ZF – has been extended three months and will now run to 26 September 2017.
“Knorr-Bremse has made the assessment that the possibilities to obtain merger clearance on terms acceptable will be significantly enhanced should Knorr-Bremse have additional time to provide more thorough and detailed information to the authorities and prepare potential remedies,” the company explained the move.
Klaus Deller, Chairman of the Executive Board of Knorr-Bremse, added, “The extension of the offer period is the right step and in the best interest of Knorr-Bremse, Haldex and its stakeholders.
“We can now provide additional information that further underlines our argumentation and the strong rationale behind the combination of Haldex and Knorr-Bremse.
“We are convinced that the expertise of both companies excellently matches. Our innovation power allows us to jointly develop new and pioneering solutions for customers in the commercial vehicle sector. We push forward the merger clearance processes with full commitment to successfully complete it as soon as possible and put the combination of Haldex and Knorr-Bremse into action.”