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American Axle Confirms Not Engaged In Any Discussions To Sell Company
(RTTNews) - Reacting to media speculation regarding the company on Friday, American Axle & Manufacturing Holdings, Inc. or AAM (AXL) said in a statement that we are not engaged in any discussions to sell the company and that we are not otherwise for sale.
The company added it is important to state this despite its long-standing policy to not publicly comment on market rumors and media speculation.
The company noted that, "In the ordinary course of executing on its strategic plan, we continuously monitor market conditions and assess industry developments and we regularly consider strategic opportunities that serve the best interests of the company (including our customers and associates) and its shareholders."
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TSX Tumbles 2%; Technology, Financials Stocks Down Sharply
The Canadian market is down sharply Thursday afternoon, weighed down by a sell-off in tech stocks amid concerns about high valuations. Shares from healthcare, utilities and financials sectors are the other major losers.
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European stocks closed lower on Thursday as investors chose to take some profits after recent gains, following the signing of a funding bill by U.S. President Donald Trump paving the way for the end of the government shutdown in the world's largest economy.
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Bay Street Likely To Open On Mixed Note
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