Offer exceeds the offers published by SAF-Holland on July 14, which have been withdrawn, and ZF Friedrichshafen lying bid Aug. 4 on $ 100 cash per share, which Haldex Board recommended when was made public.
Knorr-Bremse bid gives a total value of around 4.86 billion for all outstanding shares in Haldex.
Knorr-Bremse’s bid represents a premium of 5.8 percent compared with the closing price of 104 SEK for the Haldex share september 2, 2016, which was the last trading day before the announcement of the offer, which Knorr-Bremse considers affected by ZF Friedrichshafen bid.
Knorr-Bremse bought shares in Haldex September 2 and thus has 3.7 million Haldex shares, representing approximately 8.4 percent of capital and votes.
According to the press release on Monday where Knorr-Hemse bid on Haldex of SEK 110 per share, SEK 10 more than the landscape offer from ZF.
Knorr-Bremse is a global supplier of systems in heavy and rail vehicles.
“the transaction will bring together Haldex trailer expertise and Knorr-Bremse expertise in driver assistance systems and automated driving functions, as well as the joint expertise of electronic brake control, and telematics for trailers, “it says in the press release.
Knorr-Bremse intends not currently carrying out any significant changes in the locations where Haldex conducts business, its employees or their conditions of service, the company said.
German Knorr-Bremse had in 2015 a turnover of about EUR 6 billion and approximately 25,000 employees in 30 countries.
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