We do not want to have a long period of uncertainty because it is bad for the Haldex. We stop on our bid of 120 sek, says ZF’s ceo, Stefan Sommer, and adds that the acceptance period on Monday, October 3 will not be extended.
this despite the fact that their German competitors are Knorr-Bremse submitted a bid of sek 125 per share.
the Battle could thus be seen as lost of ZF if it were not for the fact that the Haldex board of directors recommended the lower bid from ZF. And on Monday joined the Swedish shareholders out and declared that they also support the bid.
It may seem strange, but the argument is that ZF’s bid to be seen as safer because it has the competition commission’s approval.
Knorr-Bremse claim on their page that the company has a clear plan for how an approval process would be able to go to, but that the Haldex is not given the company the opportunity to present this.
Dagens industri, which refers to the ägartjänsten Holdings owns the ZF in the present 21.2 per cent of the shares in Haldex while Knorr-Bremse is sitting at 14.9 per cent. If not ZF holds at least half of the shares on Monday will pull out of the deal.
– 50 percent is a requirement. Otherwise, we stop at the stake we have, and then find a fair settlement with the other shareholder, ” says Stefan Sommer.
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