ArvinMeritor extends Dana deal to Dec. 1

Newswire

NEW YORK, Oct 30 (Reuters) - U.S. auto parts maker ArvinMeritor said on Thursday it was extending its $2.2 billion offer to buy bigger rival Dana Corp. until December 1, 2003. As of Thursday when the offer expired, owners of 2.284 million shares, or around 1.53 percent of Dana's equity capital had been tendered and not withdrawn in favor of the deal. ArvinMeritor shares closed at $16.79 on Thursday while Dana shares closed at $16.14 Both trade on the New York Stock Exchange.

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