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Electronics Production |
ZF withdraws all-cash offer for Haldex
ZF Friedrichshafen AG, through its wholly-owned subsidiary ZF International has withdrawn its offer to the shareholders of Swedish automotive supplier Haldex.
The increased offer of SEK 120 (EUR 12.48) in cash per Haldex share had been made public on 16 September 2016. The acceptance period for the offer ended on 3 October 2016 – and as of this date, the offer has been accepted by shareholders representing 9.59% of the total share capital in Haldex. The offer was conditional upon being accepted by Haldex’s shareholders to such an extent that ZF would become the owner more than 50 percent of Haldex’s total share capital. As this condition has not been met, ZF has decided to no longer pursue the offer.