Haldex conflict escalates

On Thursday an extraordinary meeting of Haldex’s shareholders ordered the board to fully comply with the bidder, German Knorr-Bremse. The board withdrew its support for the bid in June as it believed the European Commission would likely turn down the deal. Since then Haldex has chosen to break off all collaboration with Knorr-Bremse over the bid.

After the meeting CEO Jörgen Durban kept his stance to ignore the board’s order. “We cannot implement the decision as it would benefit one owner, but damage Haldex.”