The Boards of American Axle & Manufacturing Holdings Inc. (AAM) and Dowlais Group have announced that they have reached agreement on the terms of a recommended cash and share offer to be made by AAM for the entire issued and to be issued ordinary share capital of Dowlais, to be implemented by way of a Scheme of Arrangement, subject to a Sanction Hearing to be held on 30th January 2026.
The terms of the scheme are as follows: –
For each Dowlais Group share held – 0.0881 AAM shares and 43 pence in cash
A Mix and Match Facility will also be made available to Dowlais shareholders to enable them to elect, subject to off-setting elections, to vary the proportions in which they receive cash and AAM shares in respect of their holdings in Dowlais.
The Scheme is currently expected to take effect on 3rd February 2026.
Corporate Action Administration
Direct Line – 0161-819-4850 | Email: caisa@pilling.co.uk