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EU: Knorr-Bremse acquisition of Haldex unlikely despite divestment offer

By  |  July 3, 2017

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

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    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.”

    Full Content: New York Times

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