Dowlais shareholders approve AAM acquisition in court and general meetings.

Dowlais Group PLC shareholders have approved a recommended cash and share combination with American Axle & Manufacturing Holdings, Inc. The acquisition, announced on January 29, 2025, will see AAM acquire Dowlais' entire issued and to be issued share capital. The transaction is expected to complete in the third quarter of 2025, subject to regulatory approvals.

Dowlais Group plc shareholders have approved a recommended cash and share combination with American Axle & Manufacturing Holdings, Inc. (AAM), marking a significant step forward in the acquisition process announced on January 29, 2025. The deal, which will see AAM acquire Dowlais' entire issued and to be issued share capital, is expected to close in the third quarter of 2025, pending regulatory approvals.

At the court meeting and the general meeting held by Dowlais on July 22, 2025, 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. This approval follows AAM stockholder approval on July 15, 2025, of all proposals related to the combination.

The acquisition aims to expand AAM’s geographic presence and market reach in the automotive industry, creating a leading global driveline and metal forming supplier with projected annual revenues of approximately $12 billion. The combined company will benefit from Dowlais' portfolio of market-leading, high-technology engineering businesses, including GKN Automotive and GKN Powder Metallurgy, which operate over 70 manufacturing facilities in 19 countries.

David C. Dauch, Chairman and Chief Executive Officer of AAM, expressed satisfaction with the investor community's alignment with the strategic rationale of the combination. "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," said Dauch.

The transaction is expected to close in the fourth quarter of 2025, subject to the satisfaction of remaining conditions, including antitrust and other regulatory approvals. More information about the proposed combination can be found on AAM's investor website at www.aam.com/investors/offer-for-Dowlais-Group-plc.

References:
[1] https://www.theglobeandmail.com/investing/markets/stocks/AXL/pressreleases/33449438/american-axle-stockholders-approve-dowlais-acquisition/
[2] https://www.morningstar.com/news/pr-newswire/20250722de34814/recommended-cash-and-share-combination-of-dowlais-group-plc-with-american-axle-manufacturing-holdings-inc