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Dana Inc (DAN.N)

DAN.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Dana Gets Contract To Supply Axles For Jaguar, Land Rover Programs
Thursday, 22 Mar 2018 01:50pm EDT 

March 22 (Reuters) - Dana Inc ::DANA SECURES CONTRACT TO SUPPLY AXLES FOR NEXT-GENERATION JAGUAR, LAND ROVER PROGRAMS.SAYS ESTIMATED VALUE FOR THESE PROGRAMS TOTAL MORE THAN £300 MILLION​.SAYS TOTAL INVESTMENT FOR JAGUAR LAND ROVER PROGRAMS IS EXPECTED TO BE ABOUT £21 MILLION.SAYS NEW CONTRACTS TO SUPPLY FRONT AND REAR AXLES FOR NEXT GENERATION OF JAGUAR, LAND ROVER LUXURY VEHICLES​.  Full Article

Dana Inc Sees FY 2018 Adjusted EPS Of $2.75 - $3.05
Monday, 19 Mar 2018 06:59am EDT 

March 19 (Reuters) - Dana Inc ::ORPORATED INCREASES GUIDANCE FOR FULL YEAR 2018.SEES FY 2018 ADJUSTED EARNINGS PER SHARE $2.75 TO $3.05.SEES FY 2018 SALES UP 10 PERCENT.SEES FY 2018 SALES $7.75 BILLION TO $8.05 BILLION.SEES 2018 CAPITAL SPENDING OF APPROXIMATELY 4.0 PERCENT OF SALES.SEES 2018 FREE CASH FLOW OF APPROXIMATELY 3.5 PERCENT OF SALES.‍DUE TO IMPROVED MARKET CONDITIONS, SALES FROM NEW BUSINESS BACKLOG, 2018 SALES NOW EXPECTED TO GROW BY 10 PERCENT.FY2018 EARNINGS PER SHARE VIEW $2.84, REVENUE VIEW $7.69 BILLION -- THOMSON REUTERS I/B/E/S.  Full Article

Dana Says Under Certain Circumstances ‍Gkn Must Pay Dana Termination Fee Of $54 Million - SEC Filing
Wednesday, 14 Mar 2018 04:52pm EDT 

March 14 (Reuters) - Dana Inc ::DANA SAYS UNDER CERTAIN CIRCUMSTANCES ‍GKN MUST PAY DANA TERMINATION FEE OF $54 MILLION - SEC FILING.DANA - IF DEAL TERMINATED UNDER CERTAIN CIRCUMSTANCES GKN WILL BE OBLIGATED TO PAY TO DANA A TERMINATION FEE OF $40 MILLION - SEC FILING.  Full Article

Dana Says Secondary Listing An Option To Support Its Deal With GKN- FT‍​
Tuesday, 13 Mar 2018 04:40pm EDT 

March 13 (Reuters) - :DANA'S FINANCE DIRECTOR COLLINS SAYS SECONDARY LISTING "ABSOLUTELY AN OPTION" IF GKN'S INVESTORS REQUIRED IT TO SUPPORT THEIR $6.1 BILLION DEAL- FT‍​.  Full Article

Trade Union Unite Asks GKN Shareholders To Reject Melrose Bid
Monday, 12 Mar 2018 12:46pm EDT 

March 12 (Reuters) - Gkn Plc ::TRADE UNION UNITE- URGES GKN SHAREHOLDERS TO REJECT LATEST TAKEOVER BID FROM MELROSE.TRADE UNION UNITE- WILL BE MEETING MELROSE TO DISCUSS ITS BID IN DETAIL.TRADE UNION UNITE- REMAINS OF THE BELIEF THAT IT (MELROSE BID) IS BAD FOR JOBS, SKILLS AND INVESTMENT.  Full Article

Melrose To Extend 7 Bln STG Offer For GKN Till March 29
Friday, 9 Mar 2018 10:02am EST 

March 9 (Reuters) - Gkn Plc ::OFFER EXTENSION.‍OFFER, IS BEING EXTENDED AND WILL REMAIN OPEN FOR ACCEPTANCE UNTIL 1.00 P.M. (LONDON TIME) ON 29 MARCH 2018​.‍MIX AND MATCH FACILITY REMAINS OPEN AND ELIGIBLE GKN SHAREHOLDERS MAY ELECT, TO VARY PROPORTION IN WHICH THEY RECEIVE NEW MELROSE SHARES AND CASH."GKN SHAREHOLDERS WHO HAVE NOT YET ACCEPTED OFFER ARE URGED TO DO SO AS SOON AS POSSIBLE".AS AT 1.00 P.M. (LONDON TIME) ON 9 MARCH 2018 MELROSE HAD RECEIVED VALID ACCEPTANCES IN RESPECT OF 5.76 PER CENT OG GKN SHARES.  Full Article

Trade Union Unite Calls For Assurances Over Proposed GKN-Dana Deal
Friday, 9 Mar 2018 08:34am EST 

March 9 (Reuters) - Trade Union Unite:TRADE UNION UNITE- CALLS FOR ASSURANCES OVER PROPOSED GKN AND DANA MERGER.TRADE UNION UNITE‍​ - WILL ALSO BE PRESSING MELROSE ON WHAT IT NOW INTENDS TO DO WITH ITS TAKEOVER BID FOR GKN WHEN IT MEETS WITH COMPANY NEXT WEEK.TRADE UNION UNITE- WILL BE SEEKING URGENT MEETINGS WITH GKN TO UNDERSTAND ITS IMPLICATIONS FOR JOBS, FUTURE PRODUCTS, WORK CONTENT AND INVESTMENT.  Full Article

Dana Expects Cost Relating To Deal With GKN To Be Between $250 Mln To $300 Mln
Friday, 9 Mar 2018 07:44am EST 

March 9 (Reuters) - Dana Inc ::DANA INC SAYS RELATING TO DEAL WITH GKN, 3-YEAR IMPLEMENTATION COST EXPECTED TO BE BETWEEN $250 MILLION - $300 MILLION - SEC FILING.  Full Article

GKN ‍Believes Proposed Transaction With Dana Superior To Melrose Offer​
Friday, 9 Mar 2018 07:04am EST 

March 9 (Reuters) - GKN Plc ::PROPOSED COMBINATION OF GKN DRIVELINE AND DANA.‍BELIEVES PROPOSED TRANSACTION WITH DANA, PROSPECTS FOR GKN AEROSPACE, PROVIDES SIGNIFICANTLY GREATER VALUE FOR GKN'S SHAREHOLDERS THAN MELROSE OFFER​.  Full Article

Dana Says James Kamsickas To Be CEO Of New Co Effective Deal Close With GKN
Friday, 9 Mar 2018 06:59am EST 

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.  Full Article

Oerlikon sells drives business to Dana for around 600 million Swiss francs

ZURICH OC Oerlikon has agreed to sell its drives unit to U.S. engineering company Dana Inc , the Swiss company said on Monday after shelving a planned listing of the business.