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Knorr Bremse gets request for more info in planned Haldex takeover
December 14, 2016 / 9:44 PM / a year ago

Knorr Bremse gets request for more info in planned Haldex takeover

FRANKFURT (Reuters) - German car parts maker Knorr Bremse [STELLG.UL] has received a request for additional information from U.S. regulators as part of its planned takeover of Sweden’s Haldex (HLDX.ST), it said on Wednesday.

The request from the antitrust division of the U.S. Department of Justice was also send to Haldex, the Swedish company said in a separate statement.

Knorr-Bremse last week sealed the takeover by snaring 86.1 percent of the brake systems firm’s shares before its offer expired on Dec. 5. The offer has been extended until Feb. 28.

Haldex’s board had initially recommended a rival offer from German rival ZF Friedrichshafen [ZFF.UL], even though it was lower than Knorr‘s, saying it was concerned that a takeover by Knorr could face antitrust issues.

ZF and Haldex had warned that the concessions needed for Knorr’s bid to be approved by antitrust regulators would have severe implications for the Swedish firm.

Reporting by Christoph Steitz; Editing by Kevin Liffey

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