Quick Takeaways
- American Axle Dowlais acquisition receives final regulatory clearance in China, enabling deal completion.
- The approval removes the last antitrust hurdle for American Axle and Dowlais combination.
On January 16, U.S.-based American Axle & Manufacturing Holdings Inc and UK-based Dowlais Group PLC confirmed that China’s market regulator has issued a formal notice approving their combination. With this decision, all regulatory and antitrust conditions required for the transaction have now been fulfilled.
Regulatory approvals completed across key markets
The approval from the China State Administration for Market Regulation marks the final clearance needed for the transaction. Earlier, American Axle had disclosed that antitrust approvals had already been secured in all other relevant jurisdictions, with China being the last pending authority.
This milestone confirms that the American Axle Dowlais acquisition has successfully navigated complex regulatory reviews across multiple global markets, reinforcing confidence in the transaction timeline.
Background of the American Axle Dowlais acquisition
In January 2024, Dowlais accepted a takeover proposal valued at GBP 1.16 billion from American Axle. As part of the deal structure, American Axle plans to pursue a secondary listing on the London Stock Exchange, allowing Dowlais shareholders to continue trading shares of the combined entity in London.
The strategic move is designed to maintain investor access in the UK while supporting the integration of both automotive component portfolios.
Timeline toward completion
Following the court hearing, the American Axle prospectus related to the secondary London listing is expected to be published shortly thereafter, marking the final procedural step toward completing the acquisition and moving into the integration phase.
Regulatory approvals completed across key markets
The approval from the China State Administration for Market Regulation marks the final clearance needed for the transaction. Earlier, American Axle had disclosed that antitrust approvals had already been secured in all other relevant jurisdictions, with China being the last pending authority.
This milestone confirms that the American Axle Dowlais acquisition has successfully navigated complex regulatory reviews across multiple global markets, reinforcing confidence in the transaction timeline.
Background of the American Axle Dowlais acquisition
In January 2024, Dowlais accepted a takeover proposal valued at GBP 1.16 billion from American Axle. As part of the deal structure, American Axle plans to pursue a secondary listing on the London Stock Exchange, allowing Dowlais shareholders to continue trading shares of the combined entity in London.
The strategic move is designed to maintain investor access in the UK while supporting the integration of both automotive component portfolios.
Timeline toward completion
- Antitrust clearances were largely completed by October 27, 2025
- Remaining approvals in Brazil, Mexico, and China have now been obtained
- A court hearing to implement the scheme of arrangement is scheduled for January 30
- The transaction is expected to close on February 3
Following the court hearing, the American Axle prospectus related to the secondary London listing is expected to be published shortly thereafter, marking the final procedural step toward completing the acquisition and moving into the integration phase.
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