Dana to merge with Eaton's Vehicle and eMobility units in $13B Reverse Morris Trust deal

Filed June 11, 2026 · Period ending June 10, 2026 · ~1 min read

Key Changes

• high

  Dana shareholders will receive 1 share of the combined company for each Dana share, owning ~49.9% post-merger while former Eaton shareholders hold at least 50.1%. Transaction structured as tax-free Reverse Morris Trust.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• high

  SpinCo will pay Eaton ~$1.1B before distribution. Dana and SpinCo secured $2.6B bridge loan from Goldman Sachs to fund this payment, refinance existing Dana debt, and cover transaction costs.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
• medium

  Combined company board will include all current Dana directors plus three Eaton designees (one executive, two independent directors). Both boards unanimously approved the transaction.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →