American Axle to Acquire Dowlais in $1.44 Billion Deal, Creating Global Auto Supplier
American Axle & Manufacturing ( AXL, Financials) has reached an agreement to acquire Dowlais Group in a $1.44 billion cash-and-stock deal, the companies announced Wednesday. Shares tumbled over 10%, leading a chip sell-off as China's new AI model prompted fresh questions on Big Tech's investments.