# Eaton Corp plc (ETN) — merger/definitive [pending]
Source: SEC API (secapi.ai) · situation sit_cd7086dd7fdf45137b8f · retrieved 2026-08-11T16:16:33.530Z

## Overview
We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets.

On June 10, 2026, Eaton Corporation plc entered into definitive agreements with Dana Incorporated to separate Eaton's Mobility business and combine it with Dana in a Reverse Morris Trust (RMT) transaction. Eaton shareholders will tender their Eaton shares in an exchange offer for shares of Mobility (USA) Corporation (SpinCo), followed by a clean-up pro rata distribution if necessary. Immediately thereafter, a direct wholly owned subsidiary of SpinCo will merge with and into Dana, with Dana surviving as a direct wholly owned subsidiary of SpinCo. Following completion, Eaton shareholders are expected to own at least 50.1% of the combined company's outstanding shares. Eaton will receive a cash distribution of approximately $1.1 billion prior to completion of the Transaction, subject to customary cash and indebtedness adjustments and tax payments.

## Terms
- Counterparty: Dana Incorporated · Deal value: $1.10B · Consideration: mixed · Stake: 50.1%

## Key dates
- Announced 2026-07-31

## Timeline
- 2026-07-31 · 425 (0000950142-26-002234): 425 - Eaton Corp plc — *We make products for the data center, utility, industrial, commercial, machine building, residential, aerospace and mobility markets.* On June 10, 2026, Eaton Corporation plc entered into definitive agreements with Dana Incorporated to separate Eaton's Mobility business and combine it with Dana in a Reverse Morris Trust (RMT) transaction. Eaton shareholders will tender their Eaton shares in an exchange offer for shares of Mobility (USA) Corporation (SpinCo), followed by a clean-up pro rata distribution if necessary. Immediately thereafter, a direct wholly owned subsidiary of SpinCo will merge with and into Dana, with Dana surviving as a direct wholly owned subsidiary of SpinCo. Following completion, Eaton shareholders are expected to own at least 50.1% of the combined company's outstanding shares. Eaton will receive a cash distribution of approximately $1.1 billion prior to completion of the Transaction, subject to customary cash and indebtedness adjustments and tax payments.
  https://www.sec.gov/Archives/edgar/data/1551182/0000950142-26-002234.txt

## Citations
- 0000950142-26-002234 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000095014226002234