AAM and Dowlais $1.44bn merger receives European Commission clearance

American Axle & Manufacturing (AAM) Holdings and UK-based Dowlais have confirmed that the European Commission (EC) has granted unconditional clearance for their proposed merger. Earlier this year, AAM agreed to buy Dowlais in a cash-and-stock transaction valued at about $1.44bn. The combination is intended to form a larger global driveline and metal‑forming supplier with a product set for internal combustion engine (ICE), hybrid, and electric vehicles (EV). Under the deal terms, Dowlais shareholders wil ...