Dana announces termination of agreement to acquire portion of light-vehicle thermal business from Modine Manufacturing Company

Dana Incorporated announced today a mutual agreement with Modine Manufacturing Company to terminate Dana's agreement to acquire a portion of Modine's automotive thermal-management business for one dollar with the assumption of certain financial liabilities

Dana Incorporated announced today a mutual agreement with Modine Manufacturing Company to terminate Dana’s agreement to acquire a portion of Modine’s automotive thermal-management business for one dollar with the assumption of certain financial liabilities.  Both companies had been actively engaged in the regulatory review process in Germany for many months and have decided that it is no longer in the best interest of either party to pursue the transaction further.

SOURCE: Dana

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