Dana and Allison Successfully Complete Regulatory Approvals for Business Sale

Important Business Development

On November 19, 2025, Dana Incorporated and Allison Transmission Holdings, Inc. announced significant progress in their business transaction concerning Dana's Off-Highway operations. Both companies revealed that they have acquired all necessary regulatory approvals to proceed with the sale, setting the stage for closing the transaction by the year's end.

This announcement is crucial for Dana, as CEO R. Bruce McDonald remarked that this achievement represents a vital milestone in their ongoing transformation strategy. Finalizing the sale to Allison, a leader in propulsion solutions, not only heralds a new chapter for Dana but also allows them to return $600 million to shareholders this fiscal year. Furthermore, Dana anticipates a reduction of approximately $2 billion in debt in the following year, signaling a move towards a stronger financial position.

David S. Graziosi, CEO of Allison Transmission, expressed optimism about welcoming the specialized Off-Highway Drive and Motion Systems team into their workforce. This alignment with Allison’s long-term growth strategy is set to bolster their foothold in the competitive global off-highway market.

The two companies are now focused on completing customary closing procedures. This transaction has the potential to reshape the operational landscape for both organizations, driving innovation and expanding capabilities within the off-highway sector.

About Dana Incorporated

Dana is recognized as a global leader specializing in the design and manufacture of propulsion and energy-management solutions that cater to a broad spectrum of mobility markets. Their commitment to sustainable progress is evident in their development of conventional and clean-energy solutions, which support nearly every major vehicle manufacturer worldwide. With a rich history dating back to 1904, Dana is headquartered in Maumee, Ohio, and reported approximately $7.7 billion in sales during 2024. The company employs 28,000 people across 26 countries and has garnered accolades such as being named among the “World's Most Ethical Companies” for 2025 by Ethisphere and recognized as one of “America's Most Responsible Companies 2025” by Newsweek. Dana’s high-performance culture underscores their dedication to valuing employees, fostering innovation, promoting responsible growth, and achieving collective success.

About Allison Transmission Holdings, Inc.

Allison Transmission has established itself as a premier designer and manufacturer of propulsion solutions, particularly noted for its fully automatic transmissions designed for medium and heavy-duty vehicles focused on improving operational efficiency. Founded in 1915 and headquartered in Indianapolis, Indiana, Allison operates in over 150 countries, supported by manufacturing facilities in key locations such as the USA, Hungary, and India. They are also recognized for their robust dealer network, boasting more than 1,600 independent distributor and dealer locations worldwide. Allison’s innovations span applications in construction, defense, energy, and agriculture sectors, positioning them as a critical player in the drive toward advanced propulsion solutions across diverse markets.

This acquisition not only represents a strategic alignment for Allison but also enhances their capability to serve various segments more effectively, reshaping their operational frameworks and expanding service offerings in the global off-highway sector. As they integrate the newly acquired team, Allison is poised to leverage these enhanced capabilities to further drive their innovation agenda.

As the transaction approaches its closing date, both Dana and Allison are set to embark on a new journey, filled with opportunities for growth and successful integration, benefitting their stakeholders in the process.