Get all your news in one place.

100’s of premium titles.
One app.

Get all your news in one place.

100’s of premium titles. One news app.

Benzinga

Business

Shivani Kumaresan

American Axle & Manufacturing Acquires Tekfor For €125M

American Axle AAM NYSE

American Axle & Manufacturing Holdings Inc (NYSE:AXL) has agreed to acquire Tekfor Group for an enterprise value of €125 million.
Tekfor Group specializes in automotive fasteners and metal-formed components for driveline, powertrain, and E-mobility applications.
Tekfor generated sales of approximately €285 million in 2021.
"This acquisition leverages the core strengths of AAM with significant synergy potential, diversifies our geographic and customer sales mix, and increases our electrification product portfolio," said Chairman and CEO David C. Dauch.
The transaction is expected to close in the second quarter of 2022.
American Axle held $530.2 million in cash and equivalents as of December 31, 2021.
Price Action: AXL shares are trading higher by 2.96% at $6.95 on the last check Monday.

Sign up to read this article

Read news from 100’s of titles, curated specifically for you.

Already a member? Sign in here

Top stories on inkl right now

California teen takes life after being bullied for being unhoused, father says

California teen takes life after being bullied for being unhoused, father says

Jose Zamora, 14, of Santa Clara had been spat on and hit on the back of the helmet by students, says Jose Bautista

The Guardian - US

Lord Blunkett injured after falling into gap at tube station

Lord Blunkett injured after falling into gap at tube station

He was getting on a District Line train with his guide dog three weeks ago when his feet slipped.

The Independent UK

First known US case of person infected with new mpox strain reported

First known US case of person infected with new mpox strain reported

Person acquired clade Ib while traveling to east Africa and treated in California for mild illness, said health officials

The Guardian - US

‘A Russian asset’: Democrats slam Trump’s pick of Tulsi Gabbard as director of national intelligence

‘A Russian asset’: Democrats slam Trump’s pick of Tulsi Gabbard as director of national intelligence

Other nominees – Matt Gaetz for attorney general and Peter Hegseth for secretary of defense – were also condemned

The Guardian - US

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Democratic leaders across US work to lead resistance against Trump’s agenda

Democratic leaders across US work to lead resistance against Trump’s agenda

Democrats from California to Illinois prepare to ‘Trump-proof’ and ‘fight to death’ against his extreme proposals

The Guardian - US

Will ‘full-blown Trump’ tariffs drive Britain back into the arms of Europe?

Will ‘full-blown Trump’ tariffs drive Britain back into the arms of Europe?

The president-elect’s unpredictability on trade has experts guessing about his impact on the UK economy – but some find glimmers of hope in the gloom

The Guardian - UK

Related Stories

Top stories on inkl right now

California teen takes life after being bullied for being unhoused, father says

California teen takes life after being bullied for being unhoused, father says

Jose Zamora, 14, of Santa Clara had been spat on and hit on the back of the helmet by students, says Jose Bautista

The Guardian - US

Lord Blunkett injured after falling into gap at tube station

Lord Blunkett injured after falling into gap at tube station

He was getting on a District Line train with his guide dog three weeks ago when his feet slipped.

The Independent UK

First known US case of person infected with new mpox strain reported

First known US case of person infected with new mpox strain reported

Person acquired clade Ib while traveling to east Africa and treated in California for mild illness, said health officials

The Guardian - US

‘A Russian asset’: Democrats slam Trump’s pick of Tulsi Gabbard as director of national intelligence

‘A Russian asset’: Democrats slam Trump’s pick of Tulsi Gabbard as director of national intelligence

Other nominees – Matt Gaetz for attorney general and Peter Hegseth for secretary of defense – were also condemned

The Guardian - US

One subscription that gives you access to news from hundreds of sites

Already a member? Sign in here

Democratic leaders across US work to lead resistance against Trump’s agenda

Democratic leaders across US work to lead resistance against Trump’s agenda

Democrats from California to Illinois prepare to ‘Trump-proof’ and ‘fight to death’ against his extreme proposals

The Guardian - US

Will ‘full-blown Trump’ tariffs drive Britain back into the arms of Europe?

Will ‘full-blown Trump’ tariffs drive Britain back into the arms of Europe?

The president-elect’s unpredictability on trade has experts guessing about his impact on the UK economy – but some find glimmers of hope in the gloom

The Guardian - UK

Our Picks

Jeremy Allen White fans praise lookalike contest winner for actually ‘nailing’ resemblance

The winner of the Jeremy Allen White lookalike contest in Chicago received a ‘$50 cash prize plus some cigarettes’

The Independent UK

Gulls aren't "rats with wings"

Gulls get a bad rap, but a new book explains how they are actually smart — and fascinating

Ryan Reynolds has just confirmed a major theory about Taylor Swift

Ryan Reynolds has just confirmed a major theory about Taylor Swift

This is not an urban shoe myth. The new Manolo Mary Jane is a thing of beauty.

Eat your heart out Carrie.

Fans trying to watch Mike Tyson vs Jake Paul on Netflix faced technical issues during undercard

It didn't take long for technical issues to rear their head in Mike Tyson vs. Jake Paul.

USA Today Sports Media Group

Group Leaves Friend After She’s Late Yet Again, Sparks Major Friendship Fallout

This woman didn't play around. She up and left her always late friend out of the birthday party bus. The post Group Leaves Friend After She’s Late Yet Again, Sparks Major Friendship Fallout first appeared on Bored Panda.

Fourteen days free

Download the app

One app. One membership.
100+ trusted global sources.

Download on the AppStore

Get it on Google Play