Traders Alert: Dana Inc (NYSE:DAN), Merrimack Pharmaceuticals Inc (NASDAQ:MACK)

On Friday, Shares of Dana Inc (NYSE:DAN), included 2.72 % and shut at $17.10 inside the end purchasing and offering session. The last exchanging scope of the stock ranges amongst $16.40 and $17.02 Dana Incorporated (DAN) recently declared a definitive agreement to purchase the power-transmission and fluid power businesses of Brevini Group, S.p.A.

Under terms of the agreement, Dana plans to at first purchase an 80 percent share in the Brevini businesses, with an option to purchase the remaining 20 percent by 2020.  Dana has valued 100 percent of the Brevini businesses at €325 million, counting the assumption of about €100 million of net debt.

The acquisition will right away expand Dana’s product portfolio with adjacent technologies and establish Dana as the only off-highway solutions provider that can manage the power to both move the equipment and perform its critical work functions.  It adds technologies for tracked vehicles, doubling Dana’s addressable market for off-highway driveline systems.  It also provides a platform of proven technologies that can be leveraged in Dana’s light- and commercial-vehicle end markets, assisting to accelerate the company’s hybridization and electrification programs.

Shares of Merrimack Pharmaceuticals Inc (NASDAQ:MACK), subtract -4.48% and shut at $6.18 inside the last exchanging session. The rest of the purchasing and offering scope of the stock levels among $6.05 and $6.59. The association’s commercial center capitalization is $787.02 Million with the general uncommon loads of 129.62 million. Merrimack Pharmaceuticals, Inc. (MACK) recently declared its third quarter 2016 financial results. Merrimack will host a live conference call and webcast recently, Wednesday, November 9 at 4:30 p.m., Eastern time, to provide an update on Merrimack’s progress in addition to a summary of these results.

Leave a Reply

Your email address will not be published. Required fields are marked *