ZF Friedrichshafen raises offer for Haldex

Z F Steering Gear (India)

16/09/2016 14:15

FRANKFURT, Sept 16 (Reuters) - Germany's ZF Friedrichshafen 
 ZFF.UL  raised its offer for Swedish brake systems maker Haldex 
 HLDX.ST  to 120 Swedish crowns ($14.03) per share, it said on 
Friday, hoping to prevail against a higher counterbid made from 
German rival Knorr-Bremse  STELLG.UL . 
    "ZF is as determined as Knorr-Bremse to take over Haldex," a 
person close to ZF said, just ahead of the group's official 
announcement of a higher offer.  urn:newsml:reuters.com:*:nASM00065Y 
    ZF holds already holds 21.24 percent of all Haldex shares 
and has received all necessary clearances, approvals and 
decisions, including from competition authorities, it said in a 
statement. 
($1 = 8.5518 Swedish crowns) 
 
 
 (Reporting by Ilona Wissenbach and Arno Schuetze; Editing by 
Christoph Steitz) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: HALDEX AB M&A/ZF FRIEDRICH