August 4, 2017 / 4:42 PM / a year ago

BRIEF-Knorr-Bremse says Haldex statement on bid extension decision misleading

STOCKHOLM, Aug 4 (Reuters) - Knorr-Bremse AG:

* Says: “In a press release issued on August 4, 2017 Haldex has given the impression to the market that the decision by the Swedish Securities Council (SSC) will be made before the Extraordinary General Meeting(EGM) which takes place on August 17, 2017”

* Knorr-Bremse says perceives this Haldex communication to be misleading

* Says understands that the SSC will not necessarily decide on the substance matter prior to the EGM

* Says firstly, the SSC must assess whether Haldex’s application is admissible, secondly the SSC will have to determine whether it is appropriate to decide on the substance matter before the EGM has been held

* Says will oppose that the Haldex Board is entitled to submit the application to the SSC without approval by the shareholders as it is pre-empting their decision

* Says will equally oppose that the matter is resolved in substance by the SSC before the shareholders have had the possibility to decide if Haldex shall support Knorr-Bremse’s request to extend the acceptance period in the offer

* Link to Haldex statement earlier on Friday: (Reporting by Johannes Hellstrom)

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