Claims and Counterclaims Dogging ArvinMeritor Bid for Dana

The battle between ArvinMeritor and Dana Corporation for control of Dana is looking to have more court volleys than Wimbledon.
In the latest, ArvinMeritor, Inc. issued a statement calling the latest charges by Dana bunk.
Today ArvinMeritor issued the following statement regarding the answer filed by Dana Corporation and its board of directors in response to ArvinMeritor’s lawsuit that was filed on July 8, 2003 in the Circuit Court for the City of Buena Vista, Virginia, and the answer and counterclaims filed by Dana in response to ArvinMeritor’s lawsuit that was filed on July 9, 2003 in the United States Federal District Court for the Western District of Virginia.
“We believe Dana’s counterclaims are without merit and we will contest them vigorously. Dana’s Board of Directors and management continue to manufacture roadblocks to a combination of Dana and ArvinMeritor in an effort to further entrench themselves at Dana’s shareowners’ expense and to prevent shareowners from receiving substantial value for their investment in Dana.”