March 9 (Reuters) - Dana Inc:
* DANA - UNDER TERMS OF AGREEMENTS, DANA SHAREHOLDERS WILL OWN ABOUT 52.75 PERCENT OF COMPANY WITH GKN SHAREHOLDERS OWNING 47.25 PERCENT
* DANA INC - FROM DEAL, EXPECTS TO DELIVER ANNUAL RUN-RATE COST SYNERGIES OF $235 MILLION WITHIN THREE YEARS
* DANA - EFFECTIVE DEAL CLOSE, KEITH WANDELL WILL SERVE AS NON-EXECUTIVE CHAIRMAN OF NEW COMPANY
* DANA - PUT IN PLACE COMMITTED DEBT FINANCING TO FUND CASH CONSIDERATION,WILL ISSUE 133 MILLION DANA PLC SHARES TO GKN SHAREHOLDERS TO CONSUMMATE DEAL
* DANA - JAMES KAMSICKAS TO BE PRESIDENT, CEO & DIRECTOR OF NEW CO EFFECTIVE DEAL CLOSE
* DANA - IN ADDITION TO DANA REPRESENTATIVES, BOARD OF COMBINED CO TO INCLUDE TWO REPRESENTATIVES TO BE DESIGNATED BY GKN
* DANA - DEAL IS ALSO COMPOSED OF ASSUMPTION OF ABOUT $1.0 BILLION OF NET PENSION LIABILITIES & 133 MILLION NEW DANA PLC SHARES ISSUED TO GKN’S SHAREHOLDERS Source text for Eikon: Further company coverage: