American Axle & Manufacturing Amends Stockholder Rights Plan

American Axle & Manufacturing Holdings, Inc. AXL announced today that AAM's Board of Directors has approved an amended and restated rights plan to remove provisions designed to protect the Company's net operating loss carryforwards and related tax benefits. Among other things, the Amended Rights Plan increases the beneficial ownership threshold at which a person or group becomes an "Acquiring Person" under the Amended Rights Plan from 4.99% of the Company's then-outstanding shares of common stock, par value $0.01 per share, to 15% of the Company's then-outstanding shares of Common Stock. The Amended Rights Plan also narrows the scope of the definition of "Acquiring Person" to exclude the reference to persons or groups that would be considered "5-percent shareholders" under Section 382 of the Internal Revenue Code of 1986, as amended, and the related treasury regulations promulgated thereunder.