The deal aims to create a “leading supplier of global driveline and metal-forming supplier” for the automotive industry.

Orders at U.S. factories posted a tepid increase in October, signaling that an ongoing slump in the industrial side of the economy shows no sign of abating.

The actual PMI figure came in at 51.2, a notable increase from the forecasted 50.1. This growth in the Manufacturing PMI is a positive sign for the manufacturing sector, as a reading above 50 ...