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.
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.
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 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.
GKN owner Dowlais faces merger from US competitor
GKN Automotive owner Dowlais Group has become the latest London-listed firm to receive a merger offer from a US competitor. In a stock exchange announcement, Dowlais said that Michigan-based American Axle & Manufacturing Holdings had offered £1.
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".
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 .
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.
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 ...
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.
British "industrial aristocracy" Dowlais joins exodus from London stock market
Dowlais traces its roots back to the formation of Dowlais Ironworks Co in south Wales at the dawn of the Industrial ...
GKN Automotive - Driveshaft Can Break
GKN Automotive (GKN) is recalling certain replacement driveshafts for 2006-2015 BMW Mini, 2004-2018 Land Rover Discovery, and Range Rover vehicles. The driveshaft can crack or break.
Organised crime gang dumped over 26,000 tonnes of waste in Lichfield
A gang of three men have been found guilty of fly-tipping more than 26,000 tonnes of waste at a former GKN site in Lichfield.
FTSE 100 Live 29 January: Automotive firm backs £1.2bn takeover, WH Smith shares surge
One of Britain’s oldest industrial manufacturers has become the latest major listed company to say it is leaving the stock ...
Melrose's plunder of GKN is a severe blow to the nation's economic security, says ALEX BRUMMER
If the government wants the UK to be a scientific and manufacturing champion, it must stop UK intellectual property escaping ...