American Axle Completes Acquisition of Metaldyne
American Axle & Manufacturing Holdings Inc. announced in early April that it completed the acquisition of Metaldyne Performance Group Inc. (MPG). The transaction was unanimously approved by the boards of directors of both companies and was recently approved by stockholders of AAM and MPG.
“Today is a historic day where we combine the strengths of both AAM and MPG into a premier, global Tier 1 automotive supplier with broader capabilities across multiple product lines,” said David C. Dauch, AAM chairman and CEO. “This transformational acquisition will allow us to maximize stakeholder value by creating a company with greater size, scale and increased business diversification that delivers efficient, powerful and innovative solutions for our customers.”
As a result of the acquisition, MPG shares have been delisted from the New York Stock Exchange.