IN BRIEF: American Axle takeover of Dowlais is cleared by China
Dowlais Group PLC - London-based automotive engineering firm - Takeover by Detroit, Michigan-based American Axle & Manufacturing Holdings Inc gets approval in China. Dowlais says the China State Administration for Market Regulation has issued a formal notice approving the combination of the two companies. EU approval was granted back in October, and Dowlais says all regulatory and antitrust approvals have now been received. The court hearing to implement the scheme of arrangement is scheduled for January 30, and the acquisition is expected to be completed on February 3. Read More