Dana Incorporated has announced a significant development in its merger and acquisition activity with the signing of a Purchase Agreement for the sale of its Business. The agreement, which includes customary representations, warranties, and covenants, specifies that Dana and its subsidiaries will refrain from engaging in competitive activities related to the Business for five years following the transaction's closing. Additionally, a termination fee of $120 million is stipulated if the deal fails to close due to certain regulatory obstacles. This transaction marks a strategic move by Dana to streamline its operations and focus on its core competencies.
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