Industrials: Automobiles and parts – LSE – M cap £920m – Price 68.35p – Flash
American Axle & Manufacturing agreed offer
In 2024, Dowlais Group exited its loss-making Hydrogen business and announced a strategic review of Powder Metallurgy. The group has now announced an agreed offer from American Axle & Manufacturing (AAM; NYSE:AXL), valuing the equity at £1.16bn or 85.2p a share (based on AAM’s price of $5.82 a share). This represents a 45% premium to the weighted average price over the last three months.

