STOCKHOLM — German automotive provider SAF Holland stated it was providing 3.2 billion Swedish crowns ($325 million) in money for all of the shares it doesn’t personal in Stockholm-listed Haldex, sending shares within the brakes maker surging greater than 40 %.
Haldex stated its board unanimously beneficial the bid, calling the 66 crowns per share provide “a good money worth.”
Shareholders representing 22.5 % of Haldex have undertaken to just accept the provide.
It’s SAF Holland’s second go at buying Haldex after a failed try in a bidding battle in 2016.
German rivals Knorr-Bremse and ZF Friedrichshafen additionally failed of their takeover makes an attempt.
Haldex shares spiked 44 % in Wednesday morning commerce to 64.80 crowns, slightly below the provide worth.
Along with the 22.5 % of shares that SAF Holland has secured agreements for, the German firm stated it has already acquired 14.1 % of Haldex’s excellent shares.
Of that 9.2 % was bought from prime shareholder Knorr-Bremse.
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