American Axle to Acquire Dowlais in $1.44 Billion Deal, Creating Global Auto Supplier
American Axle & Manufacturing ( AXL, Financials) has reached an agreement to acquire Dowlais Group in a $1.44 billion cash-and-stock deal, the companies announced Wednesday. Shares tumbled over 10%, leading a chip sell-off as China's new AI model prompted fresh questions on Big Tech's investments.
The British firm that American Axle is acquiring was listed on the London exchange in 2023 and has lost 40% of its stock ...
The Detroit-based drivetrain components supplier's acquisition of Dowlais Group plc will offer more production scale, help lower costs.
Dowlais shares jumped as much as 13%, but had pared gains to trade up 4.6% at 71.5 pence by 1418 GMT. RBC analysts said the ...
American Axle spun off from GM in 1996, nearly crashed during the recession and, with a $1.4 billion buy of UK's Dowlais, ...
Dowlais, the former automotive division of GKN, has agreed to be acquired by American Axle & Manufacturing in a ...
Dowlais shares are down about 25% over the past 12 months, as it was caught up in a broader downturn in the car industry.
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