American Axle plans secondary London listing after GKN Automotive deal

Reuters

Thu, May 15, 2025, 11:25 PM 1 min read

(Reuters) -Detroit-based American Axle and Manufacturing said connected Friday it plans to question a secondary listing of its shares successful London aft its $1.4 cardinal acquisition of GKN Automotive proprietor Dowlais.

"This volition guarantee a greater scope of some existing and prospective shareholders are capable to entree the aboriginal worth instauration accidental of the combination," said the car parts supplier, which is listed connected the New York Stock Exchange.

American Axle and Manufacturing announced a cash-and-stock woody for UK adjacent Dowlais successful January, aiming to payment from greater standard arsenic the car manufacture grapples with volatile request for electrical vehicles, economical uncertainties and the planetary enlargement of Chinese EV makers.

"Recent planetary events person further highlighted the attractiveness of the combination," the institution said, adding that regulatory filings were progressing arsenic planned.

U.S. President Donald Trump had unveiled a 25% tariff connected imported cars and airy trucks successful March.

In a partial rollback of his policies, Trump has granted automakers a two-year model to summation the stock of home components successful vehicles built successful the United States.

($1 = 0.7509 pounds)

(Reporting by Yadarisa Shabong successful Bengaluru; Editing by Savio D'Souza and Mrigank Dhaniwala)