en.Wedoany.com Reported - Dana Inc., known for its Spicer series axles in the commercial vehicle sector, has signed a definitive agreement to merge with Eaton Mobility, a business of Cleveland-based Eaton Corp., with the transaction expected to close on July 1. Under the terms of the agreement, Dana shareholders will receive 49.9% of the combined entity, while Eaton shareholders will hold 50.1% and receive an additional $1.1 billion in cash distribution. The merger follows Dana's sale of its off-highway business to Allison Transmission Holdings in early 2026, aiming to integrate Dana's global powertrain, thermal management, and sealing technologies with Eaton Mobility's commercial vehicle transmissions, engines, and emissions products.

Byron Foster, who will serve as CEO after the merger, stated that this transaction is a significant milestone in the company's transformation, creating a leading scaled powertrain solutions provider. By expanding core market share in new products and complementary technologies, Dana can enhance its ability to deliver value to customers while improving profit margins through a more balanced product portfolio and significant synergies. Dana Chairman R. Bruce McDonald will transition to Executive Chairman. Eaton Corp. CEO Paulo Ruiz added that the combination of Eaton Mobility and Dana will form an engineering solutions partner capable of serving global commercial vehicle and light vehicle markets, with this highly complementary combination creating value for customers, employees, and shareholders.

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