29 January 2025 - takeover approach
One of our old favourites Dowlais Group has seen its shares move up over 10% this morning following the news that it has agreed to be acquired by US group American Axle & Manufacturing (AAM) in a cash and shares deal. This values each share in Dowlais ar 85.2p but with half of the consideration being satisfied by new shares in AAM the share price of Dowlais has only risen to 75.5p. This is because many UK shareholders of Dowlais will not want shares in the US company and so will sell these . . .
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