Dana/GKN automotive $6.1 billion merger

9/3/2018
Merger

$ 6.1 billion

Announced

9/3/2018


Overview:

  • Dana has agreed a $6.1 billion merger with UK engineering firm GKN.
  • The deal comes after a hostile takeover bid from Melrose Industries.
  • The deal concerns GKN's Driveline division
  • The deal will see GKN shareholders take a 47.25% stake in the combined group, which will be listed in the US. GKN will get $1.6 billion through the deal, Dana will take on $1 billion in pension liabilities and issue $3.5 billion of shares to GKN investors.

Sam Duke

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