The British car parts maker Dowlais has agreed to a £1.2bn takeover by its US rival American Axle & Manufacturing, in the latest departure from the London stock market.
The main operation of Dowlais, which has been listed on the FTSE 250 index since 2023, is GKN Automotive, which formed part of the GKN engineering business that was bought by the private equity group Melrose in an acrimonious £8bn takeover battle in 2018.
