Bidders Hike Offers for Haldex Again

Drivetrain supplier ZF Friedrichshafen AG has increased its bid for Swedish brake systems maker Haldex AB to 120 kronor ($14) per share from 110 kronor in hopes of accelerating its attempt to acquire more than 50% of the company by Oct. 3.

The increase matches a new offer from German brake systems supplier Knorr-Bremse AG. ZF points out it has obtained antitrust clearances from all major markets regarding the purchase and claims its rival might face a tougher challenge doing the same.

The two companies have been in a bidding war since July. ZF already controls 21% of Haldex. The current bids value the Swedish company at 5.5 billion kronor ($647 million).