American Axle & Manufacturing Holdings, Inc. (“AAM”), announced today that at the court meeting (the “Court Meeting”) and the general meeting (the “General Meeting”) held earlier today by Dowlais Group plc (“Dowlais”), the requisite majority of scheme shareholders voted to approve the scheme arrangement at the Court Meeting and the requisite majority of Dowlais shareholders voted to approve the special resolution put forth at the General Meeting, each of which meeting was held in connection with AAM’s offer, announced on January 29, 2025, to acquire the entire issued and to be issued share capital of Dowlais (the “Combination”).
The Dowlais shareholder approval today follows AAM stockholder approval on July 15, 2025 of all proposals related to the Combination put forth to the vote of AAM stockholders.
“We are pleased that the investor community is aligned with the strategic rationale of combining these two outstanding automotive suppliers into a leading global driveline and metal forming supplier,” said David C. Dauch, Chairman and Chief Executive Officer of AAM, who will serve as the Chairman and Chief Executive Officer of the combined company. “We continue to work towards satisfying the remaining conditions to close the transaction and look forward to establishing a combined company with the powertrain-agnostic product portfolio, global reach, commitment to innovation and financial strength to succeed in a dynamic market environment and create value for all stakeholders.”
The Combination is expected to close in the fourth quarter of 2025, subject to the satisfaction of the remaining conditions, including antitrust and other regulatory approvals.
SOURCE: AAM
