Reported 1 day ago
American Axle & Manufacturing Holdings Inc. is merging with UK-based Dowlais Group Plc in a deal worth approximately $1.2 billion. This cash-and-share transaction offers a premium to Dowlais' recent share price and is expected to create synergies of around $300 million. The merger reflects ongoing shifts in the auto industry towards electric vehicles and signifies the largest US-to-UK transaction announced this year.
Source: YAHOO