DETROIT – It was a well-kept secret, but for more than a month one of North America's top suppliers was courting an even larger competitor in a merger that few observers could have predicted. ArvinMeritor Inc. of Troy, MI, announced July 8 it is offering $15 per share – or about $2.2 billion – to acquire Dana Corp., of Toledo, OH. ArvinMeritor Chairman and CEO Larry Yost tells analysts he has been in discussion with Dana management about combining the two companies since June 4, but Dana ...
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