Benzinga | Oct 25, 2021 04:32PM EDT

Dana Reports Termination Of Deal To Buy Modine's Light-Vehicle Thermal Unit

Dana Incorporated (NYSE:DAN) announced today a mutual agreement with Modine Manufacturing Company (NYSE:MOD) to terminate Dana's agreement to acquire a portion of Modine's automotive thermal-management business for one dollar with the assumption of certain financial liabilities. Both companies had been actively engaged in the regulatory review process in Germany for many months and have decided that it is no longer in the best interest of either party to pursue the transaction further.