Dana Corp. Files For Bankruptcy
In the Chapter 11 filing, Dana listed assets of $7.9 billion and liabilities of $4.7 billion. The company will fund its restructuring with a $1.45 billion facility from Citigroup, Bank of America and J.P. Morgan Chase.
Dana’s finances have been on a steady decline, with the company reporting in January that it lost $1.3 billion...
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