SAF-Holland said it has offered to acquire all issued and outstanding shares in Haldex for SEK 66 per share in cash or about 6.30 euros per share, representing a total offer value of about SEK 3.21 billion or 307 million euros for the shares in Haldex. It is the best and final offer price and it will not be increased.
The offer price represents a premium of 46.5% to the closing price of SEK 45.05 of the Haldex shares on Nasdaq Stockholm on 7 June 2022, the last trading day before the announcement of the offer.
Haldex recommended its shareholders to accept the offer.
Saf-Holland has already acquired 14.1% of the outstanding shares in Haldex of which 9.2% of the outstanding shares have been acquired from Knorr-Bremse AG. In addition, Athanase Industrial Partners, Fj?rde AP-fonden, Afa F?rs?kring and Nordea Asset Management, holding in total about 22.5% of the outstanding shares in Haldex, have entered into irrevocable undertakings to accept the offer subject to certain conditions.
The acceptance period is expected to commence around 4 July 2022 and end around 16 August 2022. Settlement is expected to begin around 24 August 2022.
Haldex is a manufacturer of brake systems such as Air Disc Brakes and Automatic Brake Adjusters as well as air suspensions for heavy trucks, buses and trailers. Haldex's customers are large manufacturers of trucks, buses and trailers in North America, Europe and Asia.
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