ArvinMeritor Inc. extends its offer to purchase Dana Corp. from Aug. 28 to Oct. 2. ArvinMeritor still is offering $15 per outstanding share of Dana common stock. Dana continues to call the proposal risky and says ArvinMeritor does not have proper financing to make the deal attractive for Dana’s shareholders. Furthermore, Dana says ArvinMeritor is looking at divesting significant assets, including its combined commercial-vehicle axle and other businesses, which it says would change the nature ...
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