M&A
confidence high
sentiment positive
materiality 0.75
Dauch Corp (DCH): M&A transaction — Dauch Corp completes acquisition of Dowlais Group for 43p cash + 0.0881 share per share
Dauch Corp
- Acquired Dowlais Group plc (GKN Automotive & Powder Metallurgy) via scheme of arrangement; Dowlais shares delisted from LSE Feb 4.
- Consideration: 43 pence cash + 0.0881 Dauch shares per Dowlais share; ~117M new Dauch shares issued.
- Combined company branded Dauch Corporation, headquartered in Detroit; David C. Dauch remains Chairman & CEO.
- Board expanded to include two former Dowlais independent directors (Simon Mackenzie Smith, Fiona MacAulay) effective Feb 5.
- Breakout awards granted to CEO (575,758 target shares), President & COO (287,879), and CFO (287,879) under performance-vesting plan tied to share price targets from $12 to $22.