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American Axle & Manufacturing (NYSE:AXL) +12.6% after-hours on Friday following a Bloomberg report that the auto components provider is exploring a possible sale and has employed an adviser to assist with the method.
A leveraged buyout via a personal fairness agency is a doable choice, in keeping with the report.
American Axle (AXL) faces challenges to take care of income as key clients equivalent to Ford and Basic Motors electrify their autos and change to totally different sorts of drivetrain parts.
The corporate’s internet debt totaled $2.67B, or ~3.6x earnings, on the finish of Q1, which Bloomberg mentioned could possibly be a hurdle to a sale.
American Axle (AXL) lately reported higher than anticipated Q1 adjusted earnings.
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