UPDATE 1-ArvinMeritor calls off takeover battle for Dana

Newswire

(New throughout, adds byline) By Jeffrey Goldfarb NEW YORK, Nov 23 (Reuters) - Dana Corp. became the latest company to fend off an unwanted takeover attempt when hostile suitor ArvinMeritor Inc. said on Sunday it would terminate the offer it launched in July. ArvinMeritor, a Troy, Michigan-based maker of axles, brake and exhaust and suspension systems, pulled its tender offer shortly after Dana's board announced that it unanimously had rejected the $18-a-share bid. ArvinMeritor, ...

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