Davis Polk & Wardwell advised Masco Corporation as stockholder of Meta…

Davis Polk & Wardwell advised Masco Corporation as stockholder of Metaldyne Corporation in connection with the sale of Metaldyne to Asahi Tec Corporation. Based in Michigan, Metaldyne is a leading global supplier of powertrain and chassis systems and components. Asahi Tec is a Japanese chassis and powertrain component supplier in the passenger car/light truck and medium/heavy truck segments. Also based in Michigan, Masco is one of the world’s largest manufacturers of brand-name consumer products for the home and family.

According to the terms of the acquisition agreement, Asahi Tec will acquire Metaldyne in a cash-out merger transaction in which Metaldyne will become a wholly owned subsidiary of Asahi Tec. The transaction is valued at approximately $2.1 billion, including Metaldyne’s debt, and is expected to be completed in the fourth quarter of 2006.

The Davis Polk corporate team includes partner Bruce K. Dallas of the Menlo Park office and partner John D. Amorosi and associate Michael Davis, both of the New York office. Partner Harry Ballan and associate Raymond J. Holst, both of the New York office, are providing tax advice.

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