Dana could leapfrog driveline market with $6.1bn GKN tie-up

Toledo, Ohio — Dana and British supplier GKN agreed to a $6.1 billion (€4.9 billion) deal 9 March that would merge GKN’s automotive business into Dana and, the Ohio company says, enable it to leapfrog larger automotive driveline competitors such as Borg-Warner, Continental and ZF Friedrichshafen.

The potential deal must be approved by regulators and shareholders, but would create the industry’s largest driveline supplier with an estimated $14.2 billion in combined global sales in 2017.

The deal’s announcement comes as GKN — led by former Ford executive…

To read more,please login or register below.

Register
This is the first step to more free
content, user offers, subscriptions
and more.
Login
Log in here using the Email Address
and Password you signed up with