Dana Inc (DAN.N)
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.
ZURICH, July 30 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.
ZURICH, July 30 OC Oerlikon said on Monday it had agreed to sell its drives unit to U.S. engineering company Dana Inc - a deal triggered after the Swiss company shelved a planned listing of the business.
* OERLIKON SIGNED DEFINITE AGREEMENT WITH DANA INC. FOR SALE OF DRIVE SYSTEMS SEGMENT
* SAYS DANA WILL ACQUIRE OERLIKON'S DRIVE SYSTEMS BUSINESS FOR CHF 600 MILLION (APPROXIMATELY $600 MILLION)
* DANA INC - "APPEARS UNLIKELY THAT OUR PROPOSED COMBINATION WITH GKN DRIVELINE WILL PROCEED"
LONDON GKN promised on Monday a quick cash handout for shareholders if they back a sweetened offer for its auto business, raising the stakes in its battle to fend off a hostile bid for the entire company.
* GKN says to quickly return up to 700 mln stg to shareholders
LONDON, March 26 Auto components maker Dana Inc said on Monday it had agreed to increase its offer for GKN's Driveline business by $140 million in cash as it stepped up its efforts to fight off rival suitor Melrose .
* INCREASES CASH CONSIDERATION FOR GKN DRIVELINE BY £100 MILLION
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