American Axle to buy Metaldyne in $3.3 billion deal #DetroitNews

Philip Nussel Automotive News - Longtime drivetrain supplier American Axle & Manufacturing Holdings Inc. said today it agreed to acquire Metaldyne Performance Group Inc. for $3.3 billion in cash, stock and debt assumption. Terms call for Detroit-based American Axle to pay $1.6 billion in cash and stock and assume $1.7 billion in Southfield-based Metaldyne's debt, according to a statement. "The combination brings together highly complementary businesses and forms a premier, global Tier 1 supplier with broad capabilities

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