secwatch.observer — SEC 8-K summary
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Issuer:     DANA Inc (DAN)
CIK:        0000026780
Form:       8-K
Filed at:   2026-06-11T10:42:13+00:00
Accession:  0001193125-26-266654
Event type: m_and_a
Sentiment:  positive
Materiality: 1.00
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Dana to combine with Eaton Mobility in $5.1B deal; combined revenue ~$11B
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- Transaction values Eaton Mobility at ~$5.1B (~8.3x 2026E adj. EBITDA before synergies); combined company enterprise value over $10B.
- Reverse Morris Trust structure: Eaton shareholders own ≥50.1%, Dana shareholders ~49.9% post-close; Eaton receives ~$1.1B cash distribution.
- Pro forma 2026 estimated sales ~$11B, adj. EBITDA ~$1.7B (~15% margin); $250M annual run-rate synergies within 24 months.
- New leadership: R. Bruce McDonald as Executive Chairman, Byron Foster as CEO (effective July 1, 2026); Timothy Kraus remains CFO.
- Dana raises 2030 targets: $14-15B sales, ~18% adj. EBITDA margin, 8-9% adj. FCF margin; deal expected to close Q1 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/26780/000119312526266654/0001193125-26-266654-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/26780/000119312526266654/d114836d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-26-266654

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