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.