GM Lifts on American Axle Labor Deal
Updated from 8:12 a.m. EDT
American Axle Manufacturing
(AXL) - Get Report
has struck a tentative agreement with the United Autoworkers that would end a costly strike.
The news, announced over the weekend, sent shares of automaker
General Motors
(GM) - Get Report
trading higher Monday.
The union announced the deal late Friday and said it would present details of the agreement to members at a meeting on Sunday. UAW members will vote Monday and Thursday of this week on the deal.
The auto components and systems maker is a key supplier to GM. Last month, American Axle blamed the strike, which began in February, for its
Shares of GM were recently climbing 32 cents, to $21.00. American Axle shares are trading around $22.69 and
Ford
(F) - Get Report
shares were flat on the day.
This article was written by a staff member of TheStreet.com.









