04:59 PM EDT, 06/11/2025 (MT Newswires) -- Dana (DAN) said late Wednesday it has reached a deal to sell its Off-Highway business to Allison Transmission ( ALSN ) for $2.7 billion, while its board authorized a $1 billion capital return program through 2027.

Dana said it expects net proceeds from the sale of $2.4 billion and plans to repay roughly $2 billion of its debt.

The deal is expected to close in late Q4, subject to regulatory approvals and closing conditions.

Meanwhile, $550 million of the capital will be returned to shareholders at or before closing of the sale, the company added.

Dana shares were up 8.7% in recent after-hours activity.

Price: 19.25, Change: +1.54, Percent Change: +8.70