AAM stockholders approve GKN Powder Metallurgy and GKN Automotive merger
Following the announcement in January that American Axle & Manufacturing (AAM), headquartered in Detroit, Michigan, USA, had agreed terms to acquire Dowlais Group plc, the UK-based parent company of GKN Automotive and GKN Powder Metallurgy, AAM’s stockholders have approved all proposals related to the combination.
Following the merger, the combined AAM and Dowlais group will have an expanded and balanced geographic presence across multiple automotive segments supporting ICE, hybrid and electric powertrains and is expected to generate annual revenues of approximately $12 billion on a non-adjusted combined basis.
AAM added that it also intends to seek a secondary listing and admission of shares of its common stock, including the new AAM shares, to trading on the London Stock Exchange.
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“We are very pleased that our stockholders recognised the tremendous value creation opportunity in combining these two outstanding automotive suppliers,” 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. “This milestone brings us one step closer to creating a leading global driveline and metal forming supplier with size and scale to successfully navigate industry shifts and volatility.”
It was stated that Dowlais shareholders are expected to vote on the merger on July 22, 2025. Pending approvals and completion of remaining conditions, the deal is anticipated to close in the fourth quarter of 2025.
