Detroit's American Axle buys British driveline maker for $1.44 billion
The British firm that American Axle is acquiring was listed on the London exchange in 2023 and has lost 40% of its stock value since.
American Axle CEO says Detroit will benefit from $1.44B Dowlais deal
Detroit-based American Axle & Manufacturing Inc. CEO David Dauch spent much of Wednesday assuring analysts that the supplier’s $1.44 billion transatlantic takeover will benefit shareholders and the automotive industry.
American Axle in Detroit Acquires British Dowlais Group for $1.44B
American Axle & Manufacturing (AAM) in Detroit has acquired the British Dowlais Group, which includes GKN Automotive and GKN Powder Metallurgy, for approximately $1.44 billion in cash and AAM shares.
American Axle to buy GKN automotive owner Dowlais in $1.4 billion deal
Detroit-based American Axle and Manufacturing will buy GKN Automotive owner Dowlais in a cash-and-stock deal, valuing the London-listed firm at about 1.16 billion pounds ($1.44 billion), the companies said on Wednesday.
U.S. Auto-Parts Maker American Axle To Buy Britain’s Dowlais For $1.4 Billion
American Axle & Manufacturing has agreed to buy Dowlais Group for about $1.44 billion in a cash-and-shares deal that will result in another U.K. company leaving the London stock market.
UK Car Parts Maker Dowlais Agrees to $1.2 Billion Merger With American Axel
American Axle & Manufacturing Holdings Inc., a maker of drivetrain components, has agreed to combine with UK peer Dowlais Group Plc in a transatlantic automotive deal.Most Read from BloombergTrump's Federal Funding Pause Threatens State Financials Housing Aid Uncertain After Trump’s Spending Freeze MemoTexas HOA Charged With Discrimination for Banning Section 8 RentersNewsom Enlists Magic Johnson,
UK car parts group Dowlais agrees US takeover in £1.2bn deal
Under the transaction, American Axle will acquire FTSE 250 group Dowlais for 85.2 pence a share, representing a premium of 25 per cent to the closing price on Tuesday. Shares in the London-listed group rose more than 10 per cent following the announcement.
UAW officials defy strike mandate by Detroit Axle workers, move to ram through sellout deal
Rank-and-file workers expressed their anger and disgust over the decision by the United Auto Workers bureaucracy to run ...
American Axle's latest acquisition highlights its long rise from near death
American Axle spun off from GM in 1996, nearly crashed during the recession and, with a $1.4 billion buy of UK's Dowlais, ...
Crain's Detroit1d
American Axle to acquire London-based supplier in $1.44B deal
American Axle & Manufacturing Holdings Inc. plans to acquire British peer Dowlais Group Plc in a $1.44 billion deal that ...
Detroit Axle workers ready to walk out as strike deadline approaches
Workers voted by 99 percent last week to authorize a strike to win substantial raises, better retirement benefits and equal ...
Detroit Axle workers OK possible strike with contract expiring next week
Detroit Axle is part of Daimler Truck. Workers, who are represented by the UAW, say they make about $10 less an hour than others at the same plant.
Why American Axle's $1.44B bid for British rival aims to navigate uncertain future
The Detroit-based drivetrain components supplier's acquisition of Dowlais Group plc will offer more production scale, help lower costs.