UPDATE 1-ArvinMeritor raises bid for Dana, says its final

Newswire

(Adds share price, details, background, analyst quote) NEW YORK, Nov 17 (Reuters) - U.S. auto parts company ArvinMeritor Inc on Monday raised its all-cash offer for larger rival Dana Corp. by 20 percent to $18 per share. ArvinMeritor said the revised offer, which values Dana at $2.53 billion and is up from $15 previously, was final. Shares of Dana fell 6.3 percent, or $1.05, to $15.60. Shares of Dana have traded above $15 since ArvinMeritor launched the hostile bid in July. ...

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