ZF Friedrichshafen draws level with Knorr Bremse on Haldex offer

Z F Steering Gear (India)

14/09/2016 07:17

FRANKFURT, Sept 14 (Reuters) - German automotive supplier ZF 
Friedrichshafen  ZFF.UL  has hiked its offer for Swedish brake 
systems rival Haldex  HLDX.ST  to 110 Swedish crowns ($12.91) a 
share, drawing level with a rival bid from Germany's 
Knorr-Bremse  STELLG.UL .  urn:newsml:reuters.com:*:nL8N1BH1BW 
    Haldex's board has unanimously recommended to accept the ZF 
offer, ZF said in a statement on Wednesday. 
    ZF already holds 4.18 percent of Haldex's share capital and 
shareholders representing 17.06 percent of the share capital in 
Haldex have entered into agreements with ZF.  
    ZF's offer is subject to the condition of receiving more 
than 50 percent of Haldex's shares. 
    ($1 = 8.5189 Swedish crowns) 
 
 (Reporting by Arno Schuetze; Editing by Maria Sheahan) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: HALDEX M&A/ZF FRIEDRICHSHAFEN