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Dana And Modine Terminate Acquisition Agreement

Both parties agreed it is no longer in the best interest of either company for Dana to acquire a portion of Modine’s Light-Vehicle Thermal Business.

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Dana today announced a mutual agreement with Modine Manufacturing Co. to terminate Dana’s agreement to acquire a portion of Modine’s automotive thermal-management business for $1 with the assumption of certain financial liabilities. 

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Both companies had been actively engaged in the regulatory review process in Germany for many months and have decided that it is no longer in the best interest of either party to pursue the transaction further.

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