Dana Incorporated acknowledges the decision by a majority of the shareholders of GKN plc to accept the proposal by Melrose Industries plc to acquire GKN. As a consequence, it appears unlikely that the proposed combination with GKN Driveline will proceed.
"We are, of course, disappointed by today's outcome and continue to believe Dana would be the best owner and operator of GKN Driveline," say James Kamsickas, Dana President and Chief Executive Officer. "This has always been an opportunity, not a required or critical asset. Dana is a strong, thriving company, and we will continue our focus on the execution of our enterprise strategy, delivering for customers and remaining responsible stewards of our shareholders' capital."
