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Eaton Corporation will separate its Mobility business and combine it with Dana Incorporated in a Reverse Morris Trust transaction. Eaton shareholders are expected to own 50.1% of the combined company, and Eaton will receive a cash distribution of approximately $1.1 billion.
“Eaton announced its intention to separate its Mobility business segment from the rest of Eaton via a spin-off.”ebs.publicnow.com
Summarized from public sources; check the original articles before acting on it.