FRANKFURT, Sept 5 German automotive supplier
Knorr-Bremse Group made a 4.86 billion Swedish
crowns ($568.26 million) all cash offer for Swedish brake
systems group Haldex, the third bid for the group
which is the subject of an intense takeover battle.
Knorr-Bremse, which makes braking systems for rail and
commercial vehicles, said it was offering 110 Swedish crowns per
share, trumping an earlier 4.4 billion crown ($515 million) cash
offer by Germany's ZF and a 4.2 billion crown offer
made by SAF-Holland.
Haldex's expertise in brake and air suspension components
for the trailer segment complements the Knorr-Bremse product
portfolio, which comprises braking, steering and powertrain
systems as well as driver assistance systems, automated driving
functions and telematics.
Knorr-Bremse said the offer is fully financed by cash
available from Knorr-Bremse's own funds, and Knorr-Bremse is not
dependent on any external financing for the offer.
($1 = 8.5524 Swedish crowns)
(Reporting by Maria Sheahan and Edward Taylor; editing by