American Axle & Manufacturing (AXL) is attracting preliminary interest from suitors including Melrose Industries (MLSPF), Siddharth Philip, Aaron Kirchfeld and Kiel Porter of Bloomberg report, citing people familiar with the matter. Melrose is weighing a combination of its GKN Automotive unit with American Axle, sources tell Bloomberg. American Axle has also had contact with other industry peers including BorgWarner (BWA) and Dana (DAN to gauge their interest in a potential merger or asset deals, the people added. Deliberations are ongoing but it’s unclear whether either party will pursue a transaction, the sources told Bloomberg. Shares of American Axle jumped 13% to $10.28 following the report.
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