Business Services Industry
AMERICAN AXLE AND DELPHI SET TO LAUNCH IPOS ... SOON.
Crain's Detroit Business, January, 1999 by ROUSH, MATT
The oft-beleaguered auto sector may yet see two new public stocks this year, both spin-offs of General Motors Corp. All the glamour may be in the Internet stocks, but Delphi Automotive Systems Inc. and American Axle & Manufacturing Inc. stand ready with government filings to take their stocks public as soon as the market is right.
Or maybe even when it isn't quite right, analysts said. ``There is competition for capital, and some of the alternatives do look more attractive, especially when you consider global oversupply of manufacturing capacity,'' said Gregory Kagay, an auto stock analyst at McDonald Investments Inc. in Birmingham. ``So it may not be an ideal time, but sometimes you can't do your IPO at the ideal time.'' American Axle filed first, last...
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