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American Axle plans secondary London listing after GKN Automotive deal
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American Axle plans secondary London listing after GKN Automotive deal
May 26, 2025 9:14 AM

May 16 (Reuters) - Detroit-based American Axle and

Manufacturing ( AXL ) said on Friday it plans to seek a

secondary listing of its shares in London after its $1.4 billion

acquisition of GKN Automotive owner Dowlais ( DWLAF ).

"This will ensure a greater range of both existing and

prospective shareholders are able to access the future value

creation opportunity of the combination," said the auto parts

supplier, which is listed on the New York Stock Exchange.

American Axle and Manufacturing ( AXL ) announced a cash-and-stock

deal for UK peer Dowlais ( DWLAF ) in January, aiming to benefit from

greater scale as the auto industry grapples with volatile demand

for electric vehicles, economic uncertainties and the global

expansion of Chinese EV makers.

"Recent global events have further highlighted the

attractiveness of the combination," the company said, adding

that regulatory filings were progressing as planned.

U.S. President Donald Trump had unveiled a 25% tariff on

imported cars and light trucks in March.

In a partial rollback of his policies, Trump has granted

automakers a two-year window to increase the share of domestic

components in vehicles built in the United States.

($1 = 0.7509 pounds)

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Savio

D'Souza and Mrigank Dhaniwala)

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