American Axle acquires Metaldyne Performance Group for $1.6 billion

American Axle Manufacturing announced it is acquiring engine part maker Metaldyne Performance Group for $1.6 billion, plus assumption of $1.7 billion in debt, making the effective price $3.3 billion. The deal aims to diversify AAM's customer base and reduce dependence on GM.

“In a major diversification move, Detroit-based auto part supplier American Axle Manufacturing (AAM) has announced it is acquiring engine part maker Metaldyne Performance Group (MPG) for USD1.6 billion.”autotechinsight.spglobal.com

• 1 source
• autotechinsight.spglobal.comEDITORIAL – American Axle increases powertrain portfolio with Metaldyne acquisition - Automotive Technology Insight | Forecasts | Industry News | Supply ChainNov 7, 2016

Summarized from public sources; check the original articles before acting on it.