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DANA INCORPORATED

(DAN)
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Dana Incorporated : Press Release dated October 25, 2021 - Form 8-K

10/25/2021 | 04:46pm EST
IMMEDIATE

Contact:

Jeff Cole

+1-419-887-3535

jeff.cole@dana.com

Dana Announces Termination of Agreement to Acquire Portion of Light-Vehicle Thermal Business from Modine Manufacturing Company

MAUMEE, Ohio, Oct. 25, 2021 - Dana Incorporated (NYSE: DAN) announced today a mutual agreement with Modine Manufacturing Company (NYSE: MOD) to terminate Dana's agreement to acquire a portion of Modine's automotive thermal-management business for one dollar with the assumption of certain financial liabilities. 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.

About Dana Incorporated

Dana is a leader in the design and manufacture of highly efficient propulsion and energy-management solutions that power vehicles and machines in all mobility markets across the globe. The company is shaping sustainable progress through its conventional and clean-energy solutions that support nearly every vehicle manufacturer with drive and motion systems; electrodynamic technologies, including software and controls; and thermal, sealing, and digital solutions.

Based in Maumee, Ohio, USA, the company reported sales of $7.1 billion in 2020 with 38,000 associates in 33 countries across six continents. Founded in 1904, Dana was named one of "America's Most Responsible Companies 2021" by Newsweek for its emphasis on sustainability and social responsibility. The company is driven by a high-performance culture that focuses on valuing others, inspiring innovation, growing responsibly, and winning together, earning it global recognition as a top employer, including "World's Best Employer" from Forbes magazine. Learn more at dana.com.

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Disclaimer

DANA Incorporated published this content on 25 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 October 2021 20:45:13 UTC.


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Financials (USD)
Sales 2021 8 851 M - -
Net income 2021 245 M - -
Net Debt 2021 1 956 M - -
P/E ratio 2021 16,1x
Yield 2021 1,72%
Capitalization 3 364 M 3 364 M -
EV / Sales 2021 0,60x
EV / Sales 2022 0,52x
Nbr of Employees 39 500
Free-Float 91,9%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 23,32 $
Average target price 28,67 $
Spread / Average Target 22,9%
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Managers and Directors
James K. Kamsickas Chairman, President & Chief Executive Officer
Jonathan M. Collins Chief Financial Officer & Executive Vice President
Matthew H. Fahnestock Chief Information Officer & Vice President
Christophe J. Dominiak Chief Technology Officer & Senior Vice President
Chris Clark Senior Vice President-Global Operations
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