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Knorr-Bremse extends offer to acquire Haldex shares

Knorr Bremse has extended the acceptance period for Haldex shares to 16 June 2017 pending approval of competition authorities.

On 5 September 2016, Knorr-Bremse announced a public O]offer to the shareholders of Haldex to tender all shares – an offer that was extended on 7 December 2016 to 28 February 2017.

However, according to Knorr-Bremse chairman Klaus Deller, the company now believes it needs more time to complete the merger clearance process.

“Our commitment to the combination of Haldex and Knorr-Bremse remains unchanged,” insists Deller.

“The commercial vehicle sector is rapidly changing towards automated driving… By combining the expertise of Haldex and Knorr-Bremse we can become a driving force and unlock additional growth.”

Deller says the settlement will be initiated as soon as Knorr-Bremse announces that the conditions for the offer have been fulfilled or Knorr-Bremse otherwise decides to complete the offer.

Assuming either of thee takes place, settlement is expected to be initiated around 28 June 2017.

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