Dana Incorporated to Combine with Eaton's Mobility Business

Fried Frank is advising Goldman Sachs & Co. LLC as exclusive financial advisor to Dana Incorporated (Dana) on its agreement with Eaton Corporation plc (Eaton) to combine with Eaton's Mobility business in a transaction valued at approximately $5.1 billion.

The combination will integrate Dana's global powertrain, thermal and sealing technologies with Eaton Mobility's commercial vehicle transmissions, engine and emissions products, and advanced electrification capabilities, to create a comprehensive, differentiated leader in commercial and light vehicle markets. Read Dana's press release for more on the transaction, which is expected to close in the first quarter of 2027.

This transaction is a continuation of Fried Frank's work advising Goldman Sachs as financial advisor on high-value deals, which includes the firm previously advising Goldman Sachs as financial advisor to UniFirst on its agreement to be acquired by Cintas and Enhabit on its agreement to be acquired by Kinderhook Industries.

M&A and private equity partners Philip Richter and Roy Tannenbaum are leading the Fried Frank team, which includes M&A and private equity associate Gwynedd Cowan.

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