UPDATE 1-ArvinMeritor plans to close Indiana plant

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(Adds details, background, stock price) CHICAGO, Sept 24 (Reuters) - Auto parts supplier ArvinMeritor Inc. , which is waging a hostile takeover bid for rival parts maker Dana Corp. , has made a "preliminary decision" to close an Indiana plant employing 850 workers, a spokeswoman said Wednesday. The Franklin, Indiana, factory makes exhaust systems. The union representing the Franklin plant workers was informed of the decision last week, ArvinMeritor spokeswoman Krista McClure told ...

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