New deal with Japan’s Asahi Tec cuts Metaldyne acquisition price
Nov 28, 2006 | 02:10 PM
| Philip Burgert
Metaldyne Corp., Plymouth, Mich., and Asahi Tec Corp. of Shizuoka, Japan, said an agreement reached with noteholders would result in a reduction of the $1.2-billion acquisition price for automotive components manufacturer Metaldyne by its Japanese competitor.
A final price for the acquisition, which is now expected to close by the middle of January, was not disclosed, but both companies said Metaldyne now expects to pay approximately $48 million in fees to noteholders to obtain their consent for the sale.....
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