Metaldyne Performance Group Inc (MPG.N)
7 Dec 2016
American Axle & Manufacturing Holdings Inc has agreed to buy Metaldyne Performance Group Inc for about $1.6 billion, the companies said on Thursday, in a cash-and-stock deal that would lower the U.S. auto parts maker's dependence on General Motors Co .
* Deal expected to close in first half of 2017 (Adds Breakingviews link, updates share prices)
(The following statement was released by the rating agency) CHICAGO, November 03 (Fitch) Fitch Ratings has placed the ratings of American Axle & Manufacturing Holdings, Inc. (AXL) and its American Axle & Manufacturing, Inc. (AAM) subsidiary on Rating Watch Negative. This includes the 'BB' Long-Term (LT) Issuer Default Ratings (IDRs), as well as AAM's secured revolving credit facility (RCF) and senior unsecured notes ratings. The rating action follows today's announcement that AXL will acqui
* Metaldyne Performance Group Inc - qtrly adjusted earnings per share $ 0.33
Nov 3 U.S. auto-parts maker American Axle & Manufacturing Holdings Inc said it would buy Metaldyne Performance Group Inc for about $1.6 billion in a cash-and-stock deal to bolster its powertrain and drivetrain product lines.
* Metaldyne performance group inc qtrly adjusted eps attributable to stockholders $0.49
* Brands including HHI, Grede, Cloyes, Metaldyne, Jernberg, Impact Forge, Novocast and Formtech, will now fall under MPG moniker