Dana, Eaton Mobility Plan $10B Parts Combination
Dana and Eaton Mobility Group plan to combine into a supplier serving commercial and light vehicles, with Eaton shareholders set to own a slight majority.
A $10 billion supplier deal
Dana Incorporated and Eaton Mobility Group plan to combine in a transaction that would create a global powertrain and vehicle-systems supplier valued at more than $10 billion.
The companies announced the deal on June 11, 2026. Eaton says the transaction values its Mobility Group at about $5.1 billion and would leave Eaton shareholders with at least 50.1% of the combined company. Dana shareholders would own about 49.9%, and Eaton would receive an approximately $1.1 billion cash distribution.
Commercial vehicles are central to the pitch
The combined company is expected to keep the Dana name and NYSE ticker, with pro forma 2026 revenue of about $11 billion and adjusted EBITDA of about $1.7 billion, including run-rate synergies.
The portfolio would bring together Dana's axles, driveshafts, electrification, thermal management, and sealing products with Eaton Mobility's commercial-vehicle transmissions, clutches, engine systems, emissions products, and power-management technologies.
Leadership and timing
Byron Foster, Dana's incoming CEO, is expected to lead the combined company. Dana Chairman and CEO R. Bruce McDonald would serve as executive chairman, while Timothy Kraus would remain CFO. Eaton's Erin Rowse is expected to become chief human resources officer at closing.
The companies expect the transaction to close in the first quarter of 2027, subject to Dana shareholder approval, regulatory clearances, and customary closing conditions.
For fleets, the deal is less about an immediate shop-floor change and more about supplier scale. A larger drivetrain and powertrain supplier can affect spec options, aftermarket support, electrification roadmaps, and parts availability over time.
