Eaton to separate Mobility unit and combine it with Dana in $5.1 billion deal
On June 10, 2026, Eaton agreed to separate its Mobility segment and combine it with Dana Incorporated in a Reverse Morris Trust transaction. Eaton will receive an approximately $1.1 billion cash distribution, and its shareholders will own at least 50.1% of the combined company. The transaction is expected to close in the first quarter of 2027, subject to Dana shareholder approval and regulatory clearances.
Key points
- Eaton receives an approximately $1.1 billion cash distribution, funded by newly issued debt of the Mobility Group
- Mobility Group valued at approximately $5.1 billion; combined company valued at over $10 billion in enterprise value
- Expected close in the first quarter of 2027, subject to Dana shareholder approval and regulatory clearances
- Combined company to operate as Dana Incorporated under the NYSE ticker DAN, led by CEO Byron Foster and CFO Timothy Kraus
The filing
Written by AI on Nov 8, 2026, 2:16 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on June 11, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.