Dana to Combine with Eaton's Mobility Group in $10B+ Reverse Morris Trust Deal
ETN sits 23% above its 52-week low of $311.915 on light trading volume (0.2× avg).
Summary
Dana Incorporated has entered a definitive agreement to combine with Eaton's Mobility Group in a Reverse Morris Trust transaction, creating a combined company valued over $10 billion with $11 billion in pro forma revenue.
Key Events · M&A and Partnerships · ETN
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Definitive Combination Agreement
Eaton Corporation plc has entered a definitive agreement to combine its Mobility Group with Dana Incorporated in a Reverse Morris Trust transaction.
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Significant Transaction Value
The transaction values Eaton's Mobility Group at approximately $5.1 billion, contributing to a combined company enterprise value of over $10 billion.
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New Combined Entity Scale
The combined company is expected to generate approximately $11 billion in pro forma revenue and realize $250 million in run-rate synergies.
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Ownership and Leadership Structure
Eaton shareholders will own at least 50.1% of the combined company, which will operate as Dana Incorporated (DAN) under new leadership including Dana's incoming CEO and current CFO.
Analysis · ETN · Manufacturing
This definitive agreement to combine Eaton's Mobility Group with Dana Incorporated is a transformational event for Dana. It significantly expands Dana's scale, product portfolio, and market presence, creating a combined entity with over $11 billion in pro forma revenue and an enterprise value exceeding $10 billion. The expected $250 million in run-rate synergies and increased diversification are key drivers for long-term value creation, despite Eaton shareholders taking a majority stake in the combined company. This strategic move positions Dana as a more comprehensive global engineered solutions partner.
How filings like this one have moved
In the 30 days to Oct 2, 2026, 40.6% of the 330 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.38%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ETN was trading at $382.91 on NYSE in the Manufacturing sector, with a market capitalization of approximately $148.7B. The 52-week trading range was $311.92 to $435.43. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.