Knorr-Bremse feel great confidence that the legal review in the EU and the united states, the attempt to buy the Haldex will result in approvals, provided acceptable after thetoxins.
This writes the German fordonsunderleverantören in an official statement to the media on Friday evening if the bid is on the Haldex, after the Haldex board of directors earlier in the week said that it considered that the Knorr-Bremses plan to take over the Haldex has failed. On the Friday, followed it up with Haldex, after having received feedback from the u.s. competition authority, considers itself strengthened in its view that uppköpsbudet are not likely to get merger clearance.
Knorr-Bremse has noted Haldex statement on the the antitrust approval process, and does not mince words in his criticism:
”We believe that the Haldex board’s behavior is done in self-interest and is an irresponsible attempt to stonewall the regulatory approval process. In addition, it is a transparent attempt to forestall the decision of the authorities to create confusion among the shareholders and to undermine our offer. Statements from the Haldex in the current situation surrounding the ongoing investigation by the EUROPEAN commission and the us department of justice is not credible,” the statement said.
Haldex claimed to have shared the feedback from the u.s. department of justice, which, according to Knorr-Bremse was ”fully expected,” incorrect. The feedback is not reducing either the Knorr-Bremses the interest or ability to complete the transaction.
”On the contrary, the feedback confirms that our efforts to prepare for any concessions in order to carry out the deal focuses on exactly the right product areas, which until last week included the support from Haldex. None of what is communicated from the DOJ today was unexpected for Knorr-Bremse and may not have come as a surprise for Haldex,” writes Knorr-Bremse and pledged continued cooperation with the competition authorities, and preparedness to ”go very far” to reach a regulatory approval.
”Knorr-Bremse remains fully focused on creating profitable growth, along with the Haldex and work together with Haldex to develop solutions for driverless driving”, it’s called the ago, and the statement ends:
”Knorr-Bremse feel great confidence that the legal review in both the EU and the united states will result in approvals, provided acceptable concessions.”
Questions and comments always welcome in the newsroom[at]tradingportalen.com