The Swedish Securities Council chooses not to rule on Haldex’ submission before the extraordinary general meeting
Haldex’ request to reject Knorr-Bremse’s extension of the acceptance period will not be processed
On August 2, Haldex has applied to the Swedish Securities Council to reject an extension of the acceptance period of Knorr-Bremse's public offer for Haldex. Knorr-Bremse has announced that it intends to apply for an extension of the acceptance period until February 2018. Haldex is of the opinion that the target company should also be able to submit an application as the company is being harmed by a lengthy bid process. The Swedish Securities Council has today decided not to process the Haldex submission but to wait for an application from Knorr-Bremse.
“The problem with today’s decision is in reality that the uncertainty continues which has a negative impact on Haldex and you can of course have views on the fact that the Swedish Securities Council actively avoids to create clarity when given the opportunity to do so. At the same time we are not surprised on the basis on the views expressed by representatives of the Swedish Securities Council in this matter in media. But for the Board of Directors that has a responsibility to act in the best interest of the company, it was a question that had to be tested.”
“In its essence, it does not change anything. The Board is committed not to recommend an extension and looks forward to the extraordinary general meeting later this week where the shareholders will be given the opportunity to be heard.”, says Jörgen Durban, chairman of the Board of Directors.
For further information, visit http://corporate.haldex.com or contact:
Jörgen Durban, Chairman of the board
Phone: +46 418 476163
Åke Bengtsson, Acting CEO
Phone: +46 418 476150
Catharina Paulcén, SVP Corporate Communications
Phone: 46 418 476157
Haldex AB (publ) is required to publish the above information under the EU Market Abuse Regulation.The information was submitted for publication by the Haldex media contact stated in the release on August 14, 2017 at 13.35 CEST.
With more than 100 years of intensely focused innovation, Haldex holds unrivaled expertise in brake systems and air suspension systems for heavy trucks, trailers and buses. We live and breathe our business delivering robust, technically superior solutions born from deep insight into our customers’ reality. By concentrating on our core competencies and following our strengths and passions, we combine both the operating speed and flexibility required by the market. Collaborative innovation is not only the essence of our products – it is also our philosophy. Our 2,150 employees, spread on four continents, are constantly challenging the conventional and strive to ensure that the products we deliver create unique value for our customers and all end-users. We are listed on the Nasdaq Stockholm Stock Exchange and have net sales of approximately 4.4 billion SEK.