The Swedish Securities Council has declined to approve a further extension of the acceptance period for Knorr-Bremse's public offer for Haldex, that currently expires on 26 September.

"We are obviously pleased that the Swedish Securities Council made the only possible decision. At the same time we hope that the handling of this issue will lead to a much needed discussion about the the contents of the takeover rules and their application. It's obvious that the existing regulations and their application have deficiencies that do not benefit anyone," said Haldex chairman Jorgen Durban.

"But more importantly, this is a message that will delight our employees, customers and long-term owners because it removes much of the uncertainty that has triggered our business for a very long time. I am convinced that many in Landskrona and in our other facilities around the world today are relieved," added Durban.