Dana Puts Up $472M To Buy Back Centerbridge-Held Shares
Centerbridge, a New York-based private equity and credit investor, currently holds 2.5 million shares of Dana's Series A preferred stock. Dana plans to repurchase the entire holding for $22.50 per underlying common share, which will reduce its number of fully diluted shares outstanding by 10 percent.
The stock buyback is contingent on the...
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