<SEC-DOCUMENT>0001193125-26-267679.txt : 20260611
<SEC-HEADER>0001193125-26-267679.hdr.sgml : 20260611
<ACCEPTANCE-DATETIME>20260611163200
ACCESSION NUMBER:		0001193125-26-267679
CONFORMED SUBMISSION TYPE:	425
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20260611
DATE AS OF CHANGE:		20260611

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DANA Inc
		CENTRAL INDEX KEY:			0000026780
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				261531856
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		425
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-01063
		FILM NUMBER:		261083586

	BUSINESS ADDRESS:	
		STREET 1:		3939 TECHNOLOGY DRIVE
		CITY:			MAUMEE
		STATE:			OH
		ZIP:			43537
		BUSINESS PHONE:		419-887-3000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1000
		CITY:			MAUMEE
		STATE:			OH
		ZIP:			43537

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA INC
		DATE OF NAME CHANGE:	20160729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA HOLDING CORP
		DATE OF NAME CHANGE:	20080129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA CORP
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DANA Inc
		CENTRAL INDEX KEY:			0000026780
		STANDARD INDUSTRIAL CLASSIFICATION:	MOTOR VEHICLE PARTS & ACCESSORIES [3714]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				261531856
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		425

	BUSINESS ADDRESS:	
		STREET 1:		3939 TECHNOLOGY DRIVE
		CITY:			MAUMEE
		STATE:			OH
		ZIP:			43537
		BUSINESS PHONE:		419-887-3000

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1000
		CITY:			MAUMEE
		STATE:			OH
		ZIP:			43537

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA INC
		DATE OF NAME CHANGE:	20160729

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA HOLDING CORP
		DATE OF NAME CHANGE:	20080129

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DANA CORP
		DATE OF NAME CHANGE:	19920703
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dana Incorporated</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">World Headquarters</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">P.O. Box 1000</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Maumee, Ohio 43537-7000</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman">Dana.com</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="right"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Filed by Dana Incorporated</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Pursuant to Rule 425 under the Securities Act of 1933</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>and deemed filed pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>under the Securities Exchange Act of 1934</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Subject Company: Dana Incorporated</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Commission File No.: <FONT STYLE="white-space:nowrap">001-01063</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Date: June&nbsp;11, 2026</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>The following communication is being filed in connection with the proposed business combination between Dana Incorporated
and Mobility (USA) Corporation, a wholly owned subsidiary of Eaton Corporation plc. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">June&nbsp;11, 2026 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Valued Supplier, </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are pleased to share that Dana
Incorporated has entered into a definitive agreement to combine with Eaton&#8217;s Mobility business&#8212;an important step that strengthens our company and enhances our ability to work together even more effectively in the years ahead. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This combination brings together two highly complementary portfolios, uniting Dana&#8217;s global driveline, sealing, and thermal technologies with Eaton
Mobility&#8217;s advanced transmission, power management, and electrification capabilities. The result will be a stronger, more comprehensive organization with expanded opportunities across light and commercial vehicle markets. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>What this means for you </I></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Our focus throughout this
process remains clear: continuity, collaboration, and long-term partnership with our supply base. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Business as usual: There will be no changes to how we operate together today. Your existing contacts, agreements,
and purchase orders remain unchanged as both companies continue operating independently until the transaction closes. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Continued collaboration: We remain committed to maintaining strong, transparent relationships with our suppliers
and ensuring continuity in sourcing, production, and logistics activities. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Greater scale and opportunity: The combined organization will have a broader global footprint and expanded
product portfolio, creating potential opportunities for deeper collaboration and future growth. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Innovation and long-term partnership: By bringing together complementary capabilities, we will accelerate the
development of next-generation technologies&#8212;supported by strong, capable supplier partners like you. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transaction is expected
to close in the first quarter of 2027, subject to approval by Dana shareholders, receipt of regulatory approvals, and other customary closing conditions. Until that time, Dana and Eaton Mobility will continue to operate independently, ensuring
stability and continuity across our supply chain. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We recognize that strong supplier relationships are built on trust, performance, and
partnership&#8212;and those principles will remain unchanged. We are committed to working closely with you to ensure seamless operations throughout this process. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Thank you for your continued partnership and support. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Sincerely, </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Dana Incorporated </B></P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Cautionary Notes on Forward-Looking Statements </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication includes &#8220;forward-looking statements&#8221; within the meaning of the federal securities laws, including Section&nbsp;27A of the
Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), and Section&nbsp;21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements regarding the proposed
transaction between Eaton Corporation plc (&#8220;Eaton&#8221;), Dana Incorporated (&#8220;Dana&#8221;) and Mobility (USA) Corporation (&#8220;SpinCo&#8221;). These forward-looking statements generally are identified by the words
&#8220;believe,&#8221; &#8220;project,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;forecast,&#8221; &#8220;outlook,&#8221; &#8220;target,&#8221; &#8220;endeavor,&#8221; &#8220;seek,&#8221;
&#8220;predict,&#8221; &#8220;intend,&#8221; &#8220;strategy,&#8221; &#8220;plan,&#8221; &#8220;may,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; &#8220;will,&#8221; &#8220;would,&#8221; or the negative thereof or variations thereon or similar
terminology generally intended to identify forward-looking statements. All statements, other than historical facts, including, but not limited to, statements regarding the expected timing and structure of the proposed transaction and financing of
the transaction, the ability of the parties to complete the proposed transaction, the expected benefits of the proposed transaction, including future financial and operating results and strategic and synergistic benefits, the tax consequences of the
proposed transaction, and the combined company&#8217;s plans, objectives, expectations and intentions, legal, economic and regulatory conditions, and any assumptions underlying any of the foregoing, are forward looking statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">These<B> </B>forward-looking statements are based on Dana&#8217;s current expectations and are subject to risks and uncertainties. Should one or more of these
risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements. The inclusion of such statements should not be regarded
as a representation that such plans, estimates or expectations will be achieved. Important factors that could cause actual results to differ materially from such plans, estimates or expectations include, among others, the ability to complete the
proposed transaction on the timeframe or on the terms currently anticipated or at all, including due to a failure to obtain requisite stockholder and/or regulatory approvals; risks related to difficulties, inabilities or delays in integrating the
businesses of Dana and SpinCo; the ability to realize the anticipated benefits of the proposed transaction, including estimated combined EBITDA, estimated combined revenue&nbsp;and estimated <FONT STYLE="white-space:nowrap">run-rate</FONT> cost
synergies; potential impact of the announcement or consummation of the proposed transaction on Eaton and Dana&#8217;s stock prices; restrictions on the conduct of Eaton and Dana&#8217;s respective businesses prior to closing and on each of their
ability to pursue alternatives to the proposed transaction; the possibility that the proposed transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events, or unforeseen or unknown
liabilities; the ability of the combined company to implement its business strategy; the inability of the combined company to retain and hire key personnel; the occurrence of any event that could give rise to termination of the proposed transaction;
the risk that stockholder litigation in connection with the proposed transaction or other litigation, settlements or investigations may affect the timing or occurrence of the proposed transaction or result in significant costs of defense,
indemnification and liability; risks relating to the ability to obtain financing for the transaction upon acceptable terms or at all; evolving legal, regulatory and tax regimes; changes in general economic and/or industry specific conditions; global
economic repercussions related to U.S. and global inflationary pressures and potential recessionary concerns; the risks that the anticipated tax treatment of the proposed transaction is not obtained; the risk of greater than expected difficulty in
separating the business of SpinCo from the other businesses of Eaton; risks related to the disruption of management time from ongoing business operations due to the pendency of the proposed transaction, or other effects of the pendency of the
proposed transaction on the relationship of any of the parties to the transaction with their employees, customers, suppliers, or other counterparties; and other risk factors detailed from time to time in Eaton and Dana&#8217;s reports filed with the
Securities and Exchange Commission (the &#8220;SEC&#8221;), including Eaton and Dana&#8217;s annual reports on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> quarterly reports on Form <FONT STYLE="white-space:nowrap">10-Q,</FONT> current reports
on Form <FONT STYLE="white-space:nowrap">8-K</FONT> and other documents filed with the SEC, including documents that will be filed with the SEC in connection with the proposed transaction. The foregoing list of important factors is not exclusive.
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any forward-looking statements speak only as of the date of this communication. Dana does not undertake, and
expressly disclaims, any obligation to update any forward-looking statements, whether as a result of new information or development, future events or otherwise, except as required by law. Readers are cautioned not to place undue reliance on any of
these forward-looking statements. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Important Information About the Transaction and Where to Find It </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the proposed transaction, SpinCo may file with the SEC an information statement on Form 10 (&#8220;Form 10&#8221;) or a registration
statement on Form <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">S-1/S-4</FONT></FONT> (the &#8220;Form <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">S-1/S-4&#8221;)</FONT></FONT> that constitutes a prospectus
with respect to the shares of common stock, par value $0.01 per share, of SpinCo (the &#8220;SpinCo shares&#8221;) to be issued to Eaton shareholders in the proposed exchange offer (the &#8220;prospectus/offer to exchange&#8221;). Eaton may also
file with the SEC a tender offer statement (the &#8220;Schedule TO&#8221;) with respect to the offer by Eaton to exchange all SpinCo shares for ordinary shares, par value $0.01 per share, of Eaton that are validly tendered and not properly withdrawn
prior to the expiration of the exchange offer (if any). In addition, SpinCo intends to file with the SEC a registration statement on Form <FONT STYLE="white-space:nowrap">S-4</FONT> (the &#8220;Form
<FONT STYLE="white-space:nowrap">S-4&#8221;)</FONT> that will include a proxy statement of Dana and that also constitutes a prospectus of SpinCo with respect to the SpinCo shares to be issued in the proposed merger (the &#8220;proxy
statement/prospectus&#8221;). Each of Eaton, SpinCo and Dana may also file other relevant documents with the SEC regarding the proposed transaction. This document is not a substitute for the Form 10, Form <FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">S-1/S-4,</FONT></FONT> Schedule TO, Form <FONT STYLE="white-space:nowrap">S-4,</FONT> prospectus/offer to exchange, proxy statement/prospectus or any other document that Eaton, SpinCo or Dana may file with the SEC.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENTS, THE SCHEDULE TO, THE PROSPECTUS/OFFER TO EXCHANGE, THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY
AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT EATON, DANA, SPINCO AND THE PROPOSED TRANSACTION. Investors and security
holders will be able to obtain free copies of the Form 10, Form <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">S-1/S-4,</FONT></FONT> Schedule TO, Form <FONT STYLE="white-space:nowrap">S-4,</FONT> the prospectus/offer to exchange
and the proxy statement/prospectus (if and when available) and other documents containing important information about Eaton, Dana and SpinCo and the proposed transaction, once such documents are filed with the SEC through the website maintained by
the SEC at http://www.sec.gov. Copies of the documents filed with, or furnished to, the SEC by Eaton and SpinCo will be available free of charge on Eaton&#8217;s website at
<FONT STYLE="white-space:nowrap">https://www.eaton.com/us/en-us/company/investor-relations.html.</FONT> Copies of the documents filed with, or furnished to, the SEC by Dana will be available free of charge on Dana&#8217;s website at <FONT
STYLE="white-space:nowrap">https://danaincorporated.gcs-web.com/.</FONT> The information included on, or accessible through, Eaton or Dana&#8217;s website is not incorporated by reference into this communication. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>Participants in the Solicitation </U></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eaton, Dana,
SpinCo and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of Eaton,
including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Eaton&#8217;s proxy statement for its 2026 Annual General Meeting of Shareholders, which was filed with the SEC on March&nbsp;13, 2026.
Information about the directors and executive officers of Dana, including a description of their direct or indirect interests, by security holdings or otherwise, is set forth in Dana&#8217;s proxy statement for its 2026 Annual Meeting of
Stockholders, which was filed with the SEC on March&nbsp;13, 2026. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained
in the Form <FONT STYLE="white-space:nowrap">S-4</FONT> and the proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed transaction when such materials become available. Investors should read the Form
10, Form <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">S-1/S-4,</FONT></FONT> Schedule TO, Form <FONT STYLE="white-space:nowrap">S-4,</FONT> the prospectus/offer to exchange and the proxy statement/prospectus carefully if and
when available before making any voting or investment decisions. You may obtain free copies of these documents from Eaton or Dana using the sources indicated above. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><U>No Offer or Solicitation </U></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy
or exchange any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, sale or exchange would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section&nbsp;10 of the Securities Act or in a transaction exempt from the registration requirements of the
Securities Act. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
