MergerAug 6, 2026, 12:24 PM
Dana to Acquire Eaton's Mobility Business; Q2 Sales Up 3.87% to $2.01B
AI Summary
Dana Inc. announced plans to acquire Eaton's Vehicle and eMobility business segments in a Reverse Morris Trust transaction, expected to close in Q1 2027. For the second quarter ended June 30, 2026, net sales from continuing operations increased by 3.87% to $2.01 billion, while net income attributable to the parent company was a loss of $5 million. The company also completed the sale of its Off-Highway business for $2.66 billion and increased its share repurchase program to $2 billion.
Key Highlights
- Dana to acquire Eaton's Vehicle and eMobility business segments via Reverse Morris Trust.
- Eaton shareholders will own at least 50.1% of the combined SpinCo entity post-merger.
- Q2 2026 net sales from continuing operations increased 3.87% to $2.01 billion.
- Net loss attributable to the parent company was $5 million for Q2 2026.
- Diluted EPS was $(0.05) for Q2 2026, compared to $0.19 in Q2 2025.
- Completed the sale of its Off-Highway business for $2.66 billion gross cash proceeds.
- Share repurchase program increased to $2 billion, with $1.18 billion remaining available.
- Repaid $1.338 billion in long-term debt during the first six months of 2026.
Price Impact
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