# Dana to combine with GKN Driveline division

Dana Incorporated announced a definitive agreement to combine with GKN's Driveline division, creating Dana plc. The total consideration includes $1.6 billion cash, assumption of $1.0 billion in net pension liabilities, and 133 million new Dana shares valued at $3.5 billion. Dana shareholders will own 52.75% of the combined company.

- Type: Acquisition
- Announced: 2018-03-09
- Where: United Kingdom
- Value: $6.10B
- Status: announced
- Products: vehicle drive systems, electric propulsion
- Sectors: [Automotive Components](https://endata.com/sectors/automotive-components.md)

## Companies

- [Dana Incorporated](https://endata.com/companies/369.md) (acquirer)
- [GKN plc](https://endata.com/companies/2944.md) (target)

## Sources

- [sec.gov](https://www.sec.gov/Archives/edgar/data/26780/000119312518076089/d548871dex992.htm), 2018-03-09: "This transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion."
- [sec.gov](https://www.sec.gov/Archives/edgar/data/800566/000095015718000276/form425.htm), 2018-03-09: "The Board of GKN plc is pleased to announce that GKN has reached agreement with Dana Incorporated on the proposed combination of GKN's Driveline business and Dana."
- [autonews.com](https://www.autonews.com/article/20180309/COPY/303099917/dana-s-6-1-billion-tie-up-with-gkn-would-help-leapfrog-driveline-competitors/), 2018-03-09: "Dana agrees to $6.1 billion tie-up with GKN driveline unit"
- [mexico-now.com](https://mexico-now.com/gkn-agrees-to-merge-its-automotive-division-with-dana-inc-including-two-mexican-plants/), 2018-03-09: "This transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion."
- [ttnews.com](https://www.ttnews.com/articles/dana-inc-moves-acquire-driveline-division-gkn), 2018-03-14: "This transformative and strategic transaction solidifies Dana as a world leader in vehicle drive systems and establishes a leading position in electric propulsion, which we see as the future of vehicle drivetrains."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.