FRANKFURT Oct 4 German car parts maker ZF
Friedrichshafen on Tuesday said preliminary results
from its takeover bid are expected to show it has failed to
clinch majority control over Swedish braking systems maker
"We expect that the condition of reaching an acceptance
threshold of more than 50 percent will not be reached," a
spokesman for ZF said, adding that an exact result should be
published on Wednesday.
Haldex management had recommended shareholders accept ZF's
offer, despite a higher bid from Germany's Knorr-Bremse, which
raised its offer to 125 Swedish crowns ($14.54) per share, above
the 120 crowns offered by ZF.
German daily Handelsblatt was first to report that ZF had
failed to clinch majority control over Haldex.
Haldex declined to comment.
($1 = 8.5947 Swedish crowns)
(Reporting by Ilona Wissenbach and Edward Taylor in Frankfurt
and Johannes Hellstrom in Stockholm; Editing by Georgina