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Dana and Allison Announce All Required Regulatory Approvals Received for Off-Highway Business Transaction [Yahoo! Finance]

Dana Incorporated (DAN) 
Last dana incorporated earnings: 4/30 06:59 am Check Earnings Report
Company Research Source: Yahoo! Finance
Holdings, Inc. (NYSE: ALSN) today announced that all required regulatory approvals related to the previously announced sale of Dana's Off-Highway business to Allison have been received. The parties intend to close the transaction at or near the end of this year. Dana Incorporated logo. (PRNewsFoto/Dana Incorporated) "This milestone marks a significant step forward in our transformation strategy," said R. Bruce McDonald, Chairman and Chief Executive Officer of Dana. "Finalizing this transaction with Allison, a company well-positioned to continue the success of our Off-Highway business, has enabled us to return $600 million to shareholders this year and positions us to reduce debt by approximately $2 billion next year." David S. Graziosi, Chairman and Chief Executive Officer of Allison Transmission, added, "We look forward to welcoming the Off-Highway Drive and Motion Systems team and integrating their capabilities into the organization. This acquisition aligns with our long-term Show less Read more
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