Dowlais Group PLC Announces Increased Offer Price Due to Share Cancellation
Why we think this is neutral
The RNS announcement does not contain any of the mandatory news types, such as contract news, order news, trading update, or annual results. It is an update on the acquisition of Dowlais Group PLC by American Axle & Manufacturing Holdings, Inc., specifically regarding a share cancellation and an increase in the offer price. As this is not a major operational or financial update, the sentiment is considered neutral.
Key Points
- Dowlais Group PLC has acquired and cancelled 27,865,471 ordinary shares
- American Axle & Manufacturing Holdings, Inc. has agreed to increase the cash and share consideration payable per Dowlais Share
Summary
Dowlais Group PLC has announced that it has acquired and cancelled 27,865,471 ordinary shares, which were previously held by the Melrose Employee Share Ownership Trust. As a result, American Axle & Manufacturing Holdings, Inc. has agreed to increase the cash and share consideration payable per Dowlais Share under the proposed combination.