GKN agrees to merge Driveline division with Dana in $6.1bn deal

UK engineering group GKN agreed to combine its Driveline division with US auto-engineer Dana in a deal worth $6.1bn (£4.4bn), as a defence against a takeover bid from Melrose Industries. GKN shareholders would hold 47.25% of the enlarged US-listed group.

“This combination of GKN Driveline and Dana will create a US and UK led global market leader in vehicle drive systems.”bbc.com

• 1 source
• bbc.comGKN and Dana agree auto-engineering merger for $6.1bnMar 9, 2018

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