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.
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.
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.
GKN automotive owner Dowlais set to be sold to US rival in £1.2bn deal in fresh blow to City
Corporate raider Melrose bought GKN for £8bn in 2018 in a move that faced fierce opposition over fears the 266-year-old company would be split up and sold off.
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.
GKN owner Dowlais faces takeover by US competitor
GKN Automotive owner Dowlais Group has become the latest London-listed firm to receive a takeover offer from a US competitor. In a stock exchange announcement, Dowlais said that Michigan-based American Axle & Manufacturing Holdings had offered £1.
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.
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.
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 would establish the Detroit-based supplier as a "truly global" player and further reduce its dependency on General Motors Co.
US car parts firm to merge with GKN Automotive owner Dowlais in £1.2bn deal
GKN Automotive owner Dowlais is set to be acquired by a US firm in a deal worth almost £1.2billion, less than two years after it was spun-out of Melrose Industries .
American Axle to buy GKN automotive owner Dowlais in USD 1.4 billion deal
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 offer "somewhat undervalues what is an attractive Tier 1 auto asset during the ongoing wider auto slump".
Buy Recommendation for Dowlais Group PLC Due to Strategic Acquisition and Asset Valuation
Dowlais Group PLC (DWL – Research Report), the Consumer Cyclical sector company, was revisited by a Wall Street analyst yesterday. Analyst ...
British car parts champion agrees £1.2bn US takeover to cope with electric switch
British car parts maker Dowlais has agreed to a £1.2bn US takeover to cope with the industry switch to electric vehicles (EVs ...
FTSE 100 Live 29 January: Index steady as US tech stocks rebound, WH Smith update
GKN Automotive business Dowlais is to be taken over in a deal worth £1.16 billion. The board of the FTSE 250-listed business ...