Hyperdrive
Auto Suppliers Stage M&A Deal Wave in Twilight Years for Engines
American Axle is said to explore sale that could mimic Tenneco’s transaction with Apollo.
Tenneco’s booth during the 2013 Frankfurt motor show.
Photographer: Mauritz Antin/EPA/ShutterstockThis article is for subscribers only.
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Last week, Bloomberg News reported that auto supplier American Axle had hired bankers and was exploring a potential sale, mostly likely to a private equity firm that would pull off a leveraged buyout.