Dana Confirms Discussions With GKN Regarding Potential Transaction

Dana Confirms Discussions With GKN Regarding Potential Transaction

These discussions come in the wake of news reports that U.K.-based GKN is fighting off a hostile takeover bid from Melrose Industries.

Dana Inc. today has confirmed that it is currently in discussions with GKN plc regarding a potential transaction involving part of GKN’s business.

These discussions come in the wake of news reports that U.K.-based GKN is fighting off a hostile takeover bid from Melrose Industries. News today of the talks with Dana means Melrose would likely have to increase its offer.

Dana says it does not intend to update the market further unless and until it is appropriate to do so or a formal agreement has been reached.

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