ArvinMeritor pursues meeting with Dana's directors
Jul 30, 2003 12:00 PM
ArvinMeritor Inc., the world's biggest maker of axles for commercial trucks, told independent directors for rival Dana Corp. that it wants to meet after Dana rejected its $2.2 billion takeover bid, Bloomberg reported. ArvinMeritor, which owns more than 1 million shares of Dana's common stock, had offered $15 in cash for all outstanding shares of Dana. Dana became a takeover target after a net loss of $182 million last year and $298 million in 2001.
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