March 9, 2018 / 12:22 PM / 3 months ago

BRIEF-Dana To Combine With GKN's Driveline Division

March 9 (Reuters) - Dana Inc:

* DANA ANNOUNCES AGREEMENT TO COMBINE WITH GKN'S DRIVELINE DIVISION

* DEAL INCLUDES ‍133 MILLION NEW DANA PLC SHARES ISSUED TO GKN SHAREHOLDERS, VALUED AT ABOUT $3.5 BILLION

* ‍DEAL INCLUDES ASSUMPTION OF ABOUT $1.0 BILLION OF NET PENSION LIABILITIES, AND 133 MILLION NEW DANA PLC​ SHARES

* TOTAL CONSIDERATION INCLUDES $1.6 BILLION IN CASH PROCEEDS TO GKN PLC

* DEAL TO BE ACCRETIVE TO DANA'S ADJUSTED EARNINGS PER SHARE IN 2019 Source text for Eikon: Further company coverage:

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