STOCKHOLM Dec 15 The request for more
information from U.S. regulators over German car parts maker
Knorr Bremse's planned takeover of Sweden's Haldex
means the process will likely will be extended several
months, Haldex acting chairman said on Thursday.
Knorr Bremse said on Wednesday it had received a request for
additional information from the antitrust division of the U.S.
Department of Justice for its planned acquisition of
Knorr Bremse said last week it had 86 percent of Haldex
shares after winning a bidding war with ZF
The two German rivals had both wanted to buy Haldex, lured
by its expertise in brake systems for trucks and trailers which
car suppliers want to develop into autonomous driving systems.
Haldex's board initially recommended ZF's offer, even though
it was lower than Knorr's, saying it was concerned a takeover by
Knorr Bremse could face antitrust issues, but ZF eventually
bowed out of the contest.
"This is exactly what the board emphasized when we
recommended another solution, we saw the risk for a long and
extended process," Haldex acting Chairman Magnus Johansson told
Reuters. "It is hard to say, but one can assume it will take a
number of months, maybe six months."
Johansson also said a period of uncertainty about Haldex'
ownership situation was undesirable for the company as it could
risk losing business deals.
(Reporting by Olof Swahnberg; editing Niklas Pollard)