Dana falls on $5.1 billion Eaton Mobility deal
BUZZ-Dana falls on $5.1 billion Eaton Mobility deal Updates
** Shares of auto components provider Dana DAN.N slide more than 10% to $31.83 in morning trade
** Dana says it will combine with Eaton's Mobility business in a deal valuing the unit at about $5.1 billion
** Eaton Corp ETN.N rises almost 2% to $382
** The move comes as Dana looks to capitalize on strong demand for vehicle components amid shifts in the global auto industry
** Under the deal, Eaton shareholders will own at least 50.1% and Dana shareholders about 49.9% of the combined company at close
** Barclays says the deal is positive for ETN, as the Mobility asset's valuation is higher than its earlier assessment, with the buyer paying for synergies
** The deal is expected to close in the first quarter of 2027 and the combined company will continue to operate under the Dana Incorporated name
** Including session's moves, DAN up 34.4% and ETN up 19.7% YTD
(Reporting by Apratim Sarkar in Bengaluru)