Dana to Combine With Eaton's Mobility Business in $5.1 Billion Deal

By Connor Hart

Dana said it has agreed to combine with Eaton's Mobility business in a $5.1 billion deal that would create a more comprehensive supplier serving commercial- and light-vehicle markets.

The companies said Thursday that Eaton shareholders would own at least 50.1% of the combined company at closing, with Dana shareholders set to own about 49.9%.

Under terms of the transaction, structured as a Reverse Morris Trust, Eaton would receive a cash distribution of roughly $1.1 billion, subject to adjustments for cash and indebtedness, the companies said.

The combination would integrate Dana's global powertrain, thermal, and sealing technologies with Eaton Mobility's commercial-vehicle transmissions, engine and emissions products, and advanced electrification capabilities, the companies said.

R. Bruce McDonald, Dana's chairman, is slated to serve as executive chairman of the combined company, responsible for integration and synergy realizations. And Byron Foster, Dana's incoming chief executive, is set to serve as its top executive.

"This transaction marks an important milestone in our transformation and positions Dana as a leading, scaled provider of powertrain solutions," Foster said.

Shares Eaton were up 2.6% in premarket trading, at $385.22.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

June 11, 2026 07:10 ET (11:10 GMT)