Nov 3 (Reuters) - U.S. auto-parts maker American Axle & Manufacturing Holdings Inc
AXL.N
said it would buy Metaldyne Performance Group Inc
MPG.N
for about $1.6 billion in a cash-and-stock deal to bolster its powertrain and drivetrain product lines.
The deal will also additionally include the assumption of $1.7 billion of Metaldyne's debt.
Shareholders of Metaldyne, which makes components for use in powertrain and suspension applications for vehicles, will get $13.50 per share in cash and 0.5 share of American Axle stock, the companies said.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3067; Reuters Messaging: ankit.ajmera.thomsonreuters.com@reuters.net))
The deal will also additionally include the assumption of $1.7 billion of Metaldyne's debt.
Shareholders of Metaldyne, which makes components for use in powertrain and suspension applications for vehicles, will get $13.50 per share in cash and 0.5 share of American Axle stock, the companies said.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6749 3067; Reuters Messaging: ankit.ajmera.thomsonreuters.com@reuters.net))
