ArvinMeritor pursues meeting with Dana's directors

ArvinMeritor Inc., the world's biggest maker of axles for commercial trucks, told independent directors for rival Dana Corp. that it wants to meet after Dana rejected its $2.2 billion takeover bid, Bloomberg reported. ArvinMeritor, which owns more than 1 million shares of Dana's common stock, had offered $15 in cash for all outstanding shares of Dana. Dana became a takeover target after a net loss of $182 million last year and $298 million in 2001.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.