🟢 Eaton Corporation PLC is trading 4.2% up today after announcing a $5.1B deal to merge its Mobility Group with Dana

Eaton Corporation PLC is trading 4.2% up now at $391.28 after announcing a Reverse Morris Trust deal to separate and merge its Mobility Group with Dana in a transaction valuing the business at approximately $5.1 billion.

• The transaction is expected to provide Eaton with $1.1 billion in cash, with Eaton shareholders owning at least 50.1% of the combined entity.
• The move simplifies Eaton’s portfolio, allowing the company to sharpen its strategic focus on its higher-growth electrical and aerospace businesses.