Stock Monitor: Unique Fabricating Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 13, 2018 / Active-Investors.com has just released a free research report on Dana Inc. (NYSE: DAN). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=DAN as the Company's latest news hit the wire. On March 09, 2018, the Company announced that it has inked an agreement to merge with GKN PLC's Driveline division, to create Dana PLC, a global leader in driveline systems. The deal was valued at approximately $6.1 billion, including assumption of $1.0 billion of net pension liabilities. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is currently working on the research report for Unique Fabricating, Inc. (NYSE AMER: UFAB), which also belongs to the Healthcare sector as the Company Dana. Do not miss out and become a member today for free to access this upcoming report at:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Dana most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Details of the Agreement

  • As per the agreement terms, GKN will receive cash proceeds of $1.6 billion and 133 million new Dana PLC's shares valued at approximately $3.5 billion. Dana's shareholders will own approximately 52.75% and GKN's shareholders will own 47.25% of the new entity.

  • The transaction, which is expected to close in the second half of 2018, is subject to shareholder and customary regulatory approvals. The agreement also includes GKN's Off-Highway Powertrain Services business.

  • The deal is expected to be accretive to Dana's diluted adjusted EPS in 2019 and deliver annual cost synergies of $235 million within three years of completion.

  • The merged company will be domiciled in the United Kingdom and will continue to trade on the NYSE under the ticker symbol DAN.

  • Following the transaction, Keith Wandell will serve as Non-Executive Chairman and James Kamsickas will be President, CEO, and a Director of the new company. In addition to the Dana representatives, the Board of Directors of combined company will include two representatives to be designated by GKN. Anne Stevens, Chief Executive of GKN, and Richard Parry-Jones, independent Non-Executive Director of GKN, will become non-executive directors of Dana PLC.

Strategic Benefits of the Deal

The merged entity will provide global coverage to all major customers with an enhanced product portfolio, balanced end markets, and a diverse geographic presence, strengthening the Company's presence in key markets such as China. Core eDrive technology portfolio will position the combined company to capitalize on electrification opportunities in a rapidly changing market with significant growth potential.

With pro-forma sales of approximately $13.4 billion in 2017, Dana will be the global leader in vehicle drive systems across all three major mobility markets, light vehicle, commercial vehicle, and off-highway.

The Transaction Solidifies Dana as a World Leader in Vehicle Drive Systems

James Kamsickas, President and CEO of Dana, stated that this transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion, which is the future of vehicle drivetrains. James added that Dana has a long history of partnering with GKN, and the companies possess similar cultures and exceptionally talented people.

Financial and Legal Advisors

Credit Suisse served as lead adviser and Barclays acted as M&A advisers to Dana. Credit Suisse, Barclays, and Citi provided committed financing to Dana for the transaction. Maven Global acted as capital markets adviser, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Macfarlanes LLP acted as legal advisers to Dana.

GKN's Response to Melrose Acquisition Offer

On February 01, 2018, Melrose Industries PLC announced an offer for GKN to acquire the entire issued and to be issued share capital of GKN for 1.49 new Melrose shares and 81 pence in cash per share. The offer continues to be rejected by the Board of GKN. The Board believes that the current transaction, together with the prospects for GKN Aerospace, provides significantly greater value for GKN's shareholders than the Melrose Offer. The agreement is expected to put pressure on Melrose to raise its bid.

About GKN PLC

Headquartered in the United Kingdom, GKN is a global engineering group. The Company designs, manufactures, and services systems and components for most of the world's leading aircraft, vehicle, and machinery manufacturers.

GKN Driveline has built market leadership positions in three light-vehicle product segments, constant-velocity jointed driveshafts, all-wheel-drive systems, and electrified driveline solutions. The business has expertise across mechanical systems, electronic and software control, and particularly vehicle integration. GKN Driveline has operations in 23 countries and has 61 manufacturing locations.

About Dana Inc.

Founded in 1904 and headquartered in Maumee, Ohio, Dana is a world leader in highly engineered solutions for improving the efficiency, performance, and sustainability of powered vehicles and machinery. The Company supports the passenger vehicle, commercial truck, and off-highway markets as well as industrial and stationary equipment applications.

Stock Performance Snapshot

March 12, 2018 - At Monday's closing bell, Dana's stock declined 3.68%, ending the trading session at $26.14.

Volume traded for the day: 2.39 million shares, which was above the 3-month average volume of 1.70 million shares.

Stock performance in the previous six-month period ? up 7.88%; and past twelve-month period ? up 38.82%

After yesterday's close, Dana's market cap was at $3.82 billion.

Price to Earnings (P/E) ratio was at 13.14.

The stock has a dividend yield of 1.53%.

The stock is part of the Consumer Goods sector, categorized under the Auto Parts industry. This sector was up 0.3% at the end of the session.

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