Dana Corp. rejects, on July 22, ArvinMeritor Inc.’s unsolicited offer to acquire all of Dana’s outstanding common stock for $15 per share. In a press release, Dana says ArvinMeritor’s offer was deemed financially inadequate for Dana stockholders and there are few common synergies between the two suppliers, among other objections. “There is virtually no rationale for accepting this offer, which represents inadequate value and a high level of risk for shareholders,” says Dana CEO Joe ...
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