Knorr-Bremse Ups The Ante In Battle For Haldex
23 August 2016
And so the fight between Knorr-Bremse and ZF over ownership of Haldex continues.
Knorr-Bremse AG announced it has acquired 1,575,039 additional shares in Haldex AB, corresponding to 3.56% of all shares and votes in Haldex, at a price of SEK 125 about (US$14.59 per share). The purchase agreement contains provisions on potential additional considerations, Knorr-Bremse said.
“The acquisition of a further stake in Haldex again confirms the attractiveness of our offer to the shareholders of the company,” said Klaus Deller, chairman of the executive board of Knorr-Bremse. “It reflects the positive feedback from investors which we received over the last days.
“We have clear indications that the recent statements by the management of Haldex with regard to our offer are not shared by a number of investors. We continue to pursue the compelling combination of Knorr-Bremse and Haldex due to its strong strategic rationale and the clear benefits for customers, employees and all other stakeholders.”
Deller referred to statements made by Haldex CEO Bo Annvik, who appeared at a ZF press conference earlier this week and explained why the Haldex board prefers an acquisition by ZF.
Knorr-Bremse and ZF have battled back and forth over Haldex since early September.
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