Dana, Allison receive regulatory approvals for off-highway deal

Dana Incorporated (NYSE: DAN) and Allison Transmission Holdings Inc. (NYSE: ALSN) announced they have received all required regulatory approvals for Dana's sale of its Off-Highway business to Allison. The companies plan to close the transaction near the end of this year.

The deal enables Dana to return $600 million to shareholders this year and positions the company to reduce debt by approximately $2 billion next year, according to Dana Chairman and CEO R. Bruce McDonald.

"This milestone marks a significant step forward in our transformation strategy," McDonald said in a statement. "Finalizing this transaction with Allison, a company well-positioned to continue the success of our Off-Highway business, has enabled us to return $600 million to shareholders this year and positions us to reduce debt by approximately $2 billion next year."

Allison Chairman and CEO David S. Graziosi said the acquisition aligns with the company's long-term growth strategy and strengthens its position in the global off-highway market. "We look forward to welcoming the Off-Highway Drive and Motion Systems team and integrating their capabilities into the organization," Graziosi said.

The transaction remains subject to final customary closing procedures. Dana, based in Maumee, Ohio, reported sales of approximately $7.7 billion in 2024. Allison Transmission, headquartered in Indianapolis, manufactures automatic transmissions for commercial and defense vehicles.

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