Jun 11, 11:39 PM

Dana Sells Off-Highway Unit to Allison Transmission for $2.7 Billion, Unlocking $1 Billion Shareholder Value

Dana Incorporated has agreed to sell its off-highway business to Allison Transmission for $2.7 billion. The off-highway unit produces mobile drivetrain and motion systems for heavy-duty vehicles used in sectors such as construction, agriculture, material handling, mining, forestry, and industrial applications. The transaction is estimated to yield an after-tax amount of approximately $2.4 billion. Dana's management, led by Bruce McDonald, received commendation from investor Carl Icahn, who indicated that shareholder activism contributed to the decision amid challenging market conditions. The sale is expected to unlock around $1 billion in shareholder value and represents a strategic transformation for Dana.

#Dana Incorporated #Allison Transmission #Dana #Bruce McDonald #Carl Icahn

Written with ChatGPT (GPT-4).

Sources

Automotive News@Automotive_News
1 year ago
Dana sold its off-highway unit, which makes mobile drivetrain and motion systems for heavy-duty vehicles used in construction, agriculture, material handling, mining, forestry and industrial applications, to Allison Transmission for $2.7 billion. https://t.co/dPRpCYAIFr https://t.co/RKGgNP0L4I
Open Outcrier@OpenOutcrier
1 year ago
$DAN (+2.5% pre) Dana's Massive $2.7B Off-Highway Sale Unlocks $1B Shareholder Windfall: Strategic Transformation Details https://t.co/JNyDLQgebl
Reuters@Reuters
1 year ago
Auto parts maker Dana to sell unit to Allison Transmission for $2.7 billion https://t.co/06DErTqh31 https://t.co/06DErTqh31

Additional media

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