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Dana/GKN automotive $6.1 billion merger

9/3/2018
Merger
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$ 6.1 billion

Announced

9/3/2018

Overview:

  • Dana has agreed a $6.1 billion merger with UK engineering firm GKN.
  • The deal comes after a hostile takeover bid from Melrose Industries.
  • The deal concerns GKN's Driveline division
  • The deal will see GKN shareholders take a 47.25% stake in the combined group, which will be listed in the US. GKN will get $1.6 billion through the deal, Dana will take on $1 billion in pension liabilities and issue $3.5 billion of shares to GKN investors.

Sam Duke

Jurisdictions:

United States
United Kingdom

Deal type:

Merger

Practice area:

M&A

Industry sector:

Automotive

Firms:
Cravath Swaine & Moore

Party: GKN (Merger party)

Lawyers: George Schoen, George Stephanakis, Richard Hall

Macfarlanes

Party: Dana (Merger party)

Lawyer: Richard Burrows

Paul Weiss Rifkind Wharton & Garrison

Party: Dana (Merger party)

Skadden Arps Slate Meagher & Flom

Party: GKN (Board)

Lawyers: Ann Beth Stebbins, Stephen Arcano

Slaughter and May

Party: GKN (Merger party)

Lawyer: Robert Innes

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