IN BRIEF: Dowlais and American Axle deal gets EU anti-trust approval
Dowlais Group PLC - London-based automotive engineering firm - Dowlais and Detroit, Michigan-based American Axle & Manufacturing Holdings Inc note that the European Commission unconditionally clears the merger between the two firms. The EC decision, issued on October 1, means that the European Union antitrust condition is satisfied. This takes the number of antitrust approvals to 7 out of the 10 required jurisdictions where filings were made. The clearances that remain outstanding are Brazil, Mexico and China. Clearance in Brazil is expected in early November, while clearance in Mexico is also expected in the fourth quarter. In China, Dowlais and AA remain "highly confident" of obtaining clearance in late 2025 or early 2026. Based on this, completion of the deal is expected in the first quarter of 2026. AA also intends to add Roberto Fioroni, chief financial officer of Dowlais, Markus Bannert, chief executive officer of GKN Automotive, and Jean-Marc Durbuis, chief executive officer of GKN Powder Metallurgy, to the senior executive management team of the combined group. In January, Dowlais accepted a GBP1.16 billion takeover offer from AA, a producer of driveline products and systems. The deal was approved by shareholders in July. Read More