GKN trustees reach agreement over Dana merger

Kim Kaveh
clock • 2 min read

GKN has reached an agreement with its scheme trustees as part of a $6bn (£4.3bn) proposal to merge its Driveline businesses with Dana Incorporated.

Under the terms agreed today, GKN shareholders will hold 47.25% of the enlarged business. Dana will also pay GKN $1.6bn in cash and the combined group will take on $1bn of GKN's pension deficit. ...

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