American Axle Finalizes Deal With Lenders, GM

Law360, New York (September 17, 2009, 7:53 PM EDT) -- American Axle & Manufacturing Holdings Inc. has firmed up a deal with creditors that will allow the company to receive $110 million in cash from General Motors Co. and up to $100 million in future loans from the automaker.

American Axle announced Thursday in an 8-K filing with the U.S. Securities and Exchange Commission that it had reached a deal with creditors that will pave the way for GM's payment and potential loan.

The Detroit-based company makes drivelines, powertrains and chassis for light cars and trucks....
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