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Electronics Production |
Knorr-Bremse ups its offer – but Haldex wants ZF
Knorr-Bremse AG has increased its offer to Haldexs shareholders, from SEK 120 to SEK 125.00 per Haldex share. However, Haldex’s board of directors recommends shareholders not to accept.
On 16 September 2016, ZF Friedrichshafen AG, through its wholly-owned subsidiary ZF International B.V. (ZF), also announced an increase of its offer to Haldexs shareholders to SEK 120.00 per Haldex share. “The Board has unanimously decided to recommend the Haldex shareholders to accept the increased offer by ZF of SEK 120.00 per Haldex share, having concluded that there is a very real and material risk that Knorr-Bremses offer would fail to complete after a lengthy and disruptive review process and that Knorr-Bremse has done nothing to eliminate or reduce this risk, which under Knorr-Bremses offer would ultimately be borne by the Haldex shareholders,” Haldex writes in a statement.