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American Axle & Manufacturing Holdings Inc (AXL)

AXL on New York Consolidated

20.59USD
21 Feb 2017
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$0.40 (+1.98%)
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American Axle's $1.6 billion Metaldyne buy to help grow beyond GM

American Axle & Manufacturing Holdings Inc has agreed to buy Metaldyne Performance Group Inc for about $1.6 billion, the companies said on Thursday, in a cash-and-stock deal that would lower the U.S. auto parts maker's dependence on General Motors Co .

UPDATE 3-American Axle's $1.6 bln Metaldyne buy to help grow beyond GM

* Deal expected to close in first half of 2017 (Adds Breakingviews link, updates share prices)

Fitch Places American Axle's Ratings on Negative Watch Following Metaldyne Acquisition Announcement

(The following statement was released by the rating agency) CHICAGO, November 03 (Fitch) Fitch Ratings has placed the ratings of American Axle & Manufacturing Holdings, Inc. (AXL) and its American Axle & Manufacturing, Inc. (AAM) subsidiary on Rating Watch Negative. This includes the 'BB' Long-Term (LT) Issuer Default Ratings (IDRs), as well as AAM's secured revolving credit facility (RCF) and senior unsecured notes ratings. The rating action follows today's announcement that AXL will acqui

BRIEF-American Axle to buy Metaldyne Performance for $1.6 bln

* Deal expected to deliver annual cost synergies in range of $100 million to $120 million

American Axle to buy Metaldyne Performance for $1.6 bln

Nov 3 U.S. auto-parts maker American Axle & Manufacturing Holdings Inc said it would buy Metaldyne Performance Group Inc for about $1.6 billion in a cash-and-stock deal to bolster its powertrain and drivetrain product lines.

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