BofA Merrill Lynch Advises Metaldyne in Combination with American Axle

November 4, 2016

Cleary Gottlieb is representing BofA Merrill Lynch as financial advisor to Metaldyne Performance Group Inc., in connection with the business combination between Metaldyne and American Axle & Manufacturing Holdings, Inc.

This combination was announced on November 3, 2016. 

Under the terms of the agreement, each share of Metaldyne’s common stock will be converted into the right to receive $13.50 per share in cash and 0.5 shares of American Axle common stock, for a total consideration of approximately $1.6 billion. Upon closing of the transaction, American Axle stockholders will own approximately 70 percent of the combined company, and Metaldyne stockholders will own approximately 30 percent. The transaction is anticipated to close in the first half of 2017, subject to stockholder and regulatory approvals and other customary closing conditions. 

Metaldyne is a leading provider of lightweight components for use in powertrain and suspension applications for the global light, commercial and industrial vehicle markets. American Axle is a leading manufacturer and designer of driveline and drivetrain components and systems.