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Dana Recommends Shareholders Reject Offer

Posted on September 23, 2005

Dana Corp. has recommended its shareholders reject an offer from private Canadian investment company TRC Capital Corp., which has started a "mini-tender" offer to buy up to three million shares of the automotive and commercial vehicle systems manufacturer’s stock.

Dana said the offer, which would involve about 2% of its stock, represented a 3.9% discount to its stock's closing price on Sept. 20, the last trading day before the offer.

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