Knorr-Bremse has announced the withdrawal of its public offer for Haldex.
"Today's decision also means that the competition review will be terminated," the supplier said in a statement.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
"We can finally put this public offer behind us and release the resources working on assisting the authorities with information. Ever since the end of June, when we received a very clear message from the authorities, we have known that there were no real possibilities for a deal. We will continue to build a stronger, competitive Haldex with customers, employees and shareholders in focus." said chairman Jorgen Durban.
"It's pleasing to see that we have emerged stronger from this process on many levels. Our employees have shown an outstanding willingness to fight for Haldex in the market. In addition, we have received interesting inquiries from new prospective customers who are willing to work with us as soon as the bid has disappeared. Our focus now is to secure a number of long-term customer contracts that we were unable to sign during the bidding period and to work on a long-term, stable ownership structure."
Shareholders who accepted Knorr-Bremse's offer will have their shares returned to their respective accounts.
