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Knorr-Bremse's Haldex takeover has slim chance of EU approval - Haldex chairman
July 3, 2017 / 4:12 PM / 3 months ago

Knorr-Bremse's Haldex takeover has slim chance of EU approval - Haldex chairman

STOCKHOLM, July 3 (Reuters) - A takeover of Swedish brake systems maker Haldex by Germany’s Knorr-Bremse stands only a slim chance of getting anti-trust approval from the European Union given detailed feedback from regulators, Haldex chairman told Reuters on Monday.

The Swedish company’s management withdrew its support for a takeover by car parts maker Knorr-Bremse last week because of expected regulatory opposition.

“We have had extensive cooperation with Knorr-Bremse and helped them present a very detailed proposal for the European Competition Authority, much more detailed than usual,” Haldex Chairman Jorgen Durban told Reuters in an e-mailed response to questions.

“That makes the feedback we received from the EU detailed and reliable and it has given the board solid ground for making its decision.” (Reporting by Johan Sennero. Editing by Andreas Cremer and Jane Merriman)

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