After the EU regulator announced that it would conduct an in-depth investigation into the acquisition, Knorr expressed that it hoped to delay the application until February 9, next year. EU regulators said that Knorr's concessions were not enough. The current deadline for the acquisition is September 26. However, before this, the EU could not complete the investigation. Whether or not the acquisition transaction can be finalized is yet to be discussed, depending on whether the regulator will make concessions. In his speech, Knorr said: "We have already realized the decision made by the EU. We will also hope that a new resolution will be issued and we will evaluate the current situation." Jude demanded that it be acquired for a period of up to a year. After ZF announced its withdrawal in October last year, only Knorr's bidder remains. However, the Jude board regained its support for Knorr in June this year, saying that the extension of the supervision department caused the company's business to be hit hard, and that regulators seemed unlikely to approve the agreement. At a general meeting of shareholders in August, Pollard decided to continue to support Knorr's acquisition and asked the board of directors to support the purchase of the extension and related procedures. However, Jude's board of directors continued to refuse to provide support, stating that this violates Sweden's laws and its obligations to shareholders. Jorgen Durban, chairman of Jude Board, responded to the regulator’s decision: “We are very pleased with the decision of the Swedish Securities Commission.†ZF is currently the largest shareholder of Jude, holding approximately 20% of the shares, while Knorr holds only 15%. Knorr, Jude and U.S. WABCO are the world's three manufacturers of brake systems for commercial vehicles.
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Knorr Braking System Parts
According to foreign media reports, the Swedish brake system supplier Knorr-Bremse's application for the acquisition of Haldex in Germany may be slammed because the Swedish securities regulator refused Knorr's application for extension.