Dana Corporation Responds to ArvinMeritor Announcement of Revised Tender Offer
17 November 2003 - 6:12PM
PR Newswire (US)
Dana Corporation Responds to ArvinMeritor Announcement of Revised
Tender Offer TOLEDO, Ohio, Nov. 17 /PRNewswire-FirstCall/ -- Dana
Corporation issued the following statement today, in response to
the announcement by ArvinMeritor, Inc. of a revised tender offer
for outstanding Dana shares. (Logo:
http://www.newscom.com/cgi-bin/prnh/19990903/DANA ) "ArvinMeritor
has today announced a revised tender offer for all outstanding
shares of Dana common stock at a price of $18 per share. Dana's
Board will evaluate ArvinMeritor's revised offer and will advise
Dana shareholders of the Board's position regarding the revised
offer and its reasons for such position. Dana urges its
shareholders to defer making a determination of whether to accept
or reject ArvinMeritor's revised offer until they have been advised
of the Dana Board's position. "Dana's shareholders, and its
customers, suppliers and employees, are strongly advised to read
carefully Dana's solicitation/recommendation statement regarding
ArvinMeritor's revised tender offer, when it becomes available,
because it will contain important information. Free copies of the
solicitation/recommendation statement, which will be filed by Dana
with the Securities and Exchange Commission, will be available at
the SEC's web site at http://www.sec.gov/ , or at the Dana web site
at http://www.dana.com/ , and also by directing requests to Dana's
Investor Relations Department." Dana is a global leader in the
design, engineering, and manufacture of value-added products and
systems for automotive, commercial, and off-highway vehicle
manufacturers and their related aftermarkets. The company employs
approximately 60,000 people worldwide. Founded in 1904 and based in
Toledo, Ohio, Dana operates hundreds of technology, manufacturing,
and customer service facilities in 30 countries. The company
reported 2002 sales of $9.5 billion.
http://www.newscom.com/cgi-bin/prnh/19990903/DANA
http://photoarchive.ap.org/ DATASOURCE: Dana Corporation CONTACT:
Michelle Hards of Dana Corporation, +1-419-535-4636, or Web site:
http://www.dana.com/ Company News On-Call:
http://www.prnewswire.com/comp/226839.html
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