Carl Icahn Amends Dana Inc. (DANA) Stake, Signals Active Management
Ticker: DAN · Form: SC 13D/A · Filed: Feb 7, 2024 · CIK: 26780
Complexity: simple
Sentiment: neutral
Topics: insider-activity, activist-investing, amendment, ownership-change
TL;DR
**Icahn just updated his DANA stake, watch for potential activist moves!**
AI Summary
Carl Icahn and his affiliated entities, including Icahn Capital LP and Icahn Enterprises, filed an amended Schedule 13D on February 5, 2024, for Dana Incorporated (DANA). This amendment, labeled Amendment No. 1, indicates a change in their beneficial ownership or investment intent regarding DANA's common stock. While the filing doesn't detail the specific change, it signals that Icahn, a prominent activist investor, is actively managing his position in DANA, which could lead to future strategic moves or influence on the company's direction. This matters to investors because Icahn's involvement often precedes significant corporate actions, potentially impacting stock price volatility and long-term value.
Why It Matters
Carl Icahn's continued and active involvement, as evidenced by this amendment, suggests he is closely monitoring or potentially influencing Dana Inc.'s operations, which could lead to strategic changes or M&A activity.
Risk Assessment
Risk Level: medium — Icahn's activist history can lead to significant stock price movements, both positive and negative, depending on the outcome of his involvement.
Analyst Insight
Investors should monitor future filings and news related to Carl Icahn's stake in Dana Inc. for potential activist campaigns or strategic shifts, as these could significantly impact the stock price.
Key Players & Entities
- Carl C. Icahn (person) — filer of the SC 13D/A, a prominent activist investor
- Dana Incorporated (company) — the subject company whose common stock is being reported
- Icahn Capital LP (company) — a group member and affiliate of Carl Icahn involved in the filing
- Icahn Enterprises G.P. Inc. (company) — a group member and affiliate of Carl Icahn involved in the filing
- February 5, 2024 (date) — the date of the event requiring the filing of this statement
Forward-Looking Statements
- Carl Icahn will continue to actively monitor and potentially influence Dana Incorporated's strategic direction. (Dana Incorporated) — high confidence, target: Within the next 6-12 months
- The filing of this amendment could precede further public statements or actions by Icahn regarding his investment in DANA. (Carl C. Icahn) — medium confidence, target: Within the next 3-6 months
FAQ
Who filed this SC 13D/A amendment regarding Dana Incorporated?
The SC 13D/A amendment was filed by Carl C. Icahn and his affiliated entities, including Icahn Capital LP, Icahn Enterprises G.P. Inc., Icahn Enterprises Holdings L.P., Icahn Offshore LP, Icahn Onshore LP, Icahn Partners LP, and Icahn Partners Master Fund LP.
What is the CUSIP number for Dana Incorporated's common stock mentioned in the filing?
The CUSIP number for Dana Incorporated's Common Stock, $0.01 par value, is 235825205.
What was the date of the event that required the filing of this Schedule 13D/A?
The date of the event which required the filing of this statement was February 5, 2024.
What is the business address provided for Carl C. Icahn in the filing?
Carl C. Icahn's business address is C/O Icahn Enterprises L.P., 16690 Collins Ave., PH-1, Sunny Isles Beach, FL 33160.
What type of security is the subject of this Schedule 13D/A filing?
The subject of this Schedule 13D/A filing is Common Stock, $0.01 par value, of Dana Incorporated.
Filing Stats: 2,363 words · 9 min read · ~8 pages · Grade level 15 · Accepted 2024-02-07 21:00:33
Key Financial Figures
- $0.01 — orated (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securitie
Filing Documents
- n2779_x198-sc13da.htm (SC 13D/A) — 111KB
- 0001539497-24-000228.txt ( ) — 113KB
Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer
Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to Securities of the Issuer
of the Schedule 13D is hereby amended by replacing it in its entirety with the following
Item 6 of the Schedule 13D is hereby amended by replacing it in its entirety with the following: The information set forth in Item 4 of the Schedule 13D regarding the Agreement is incorporated herein by reference. One or more of the Reporting Persons are party to cash-settled equity swap agreements with Nomura Global Financial Products Inc. (the "Broker") with respect to the Shares, with reference prices and maturity dates that vary depending upon the terms of each such cash-settled equity swap agreement. Such cash-settled equity swap agreements, taken together, result in increased economic exposure of the Reporting Persons to changes in the value of the Shares during the period that such cash-settled equity swap agreements are in effect, and pursuant to the cash-settled equity swap agreements, either (i) the Reporting Persons will be obligated to pay to the Broker, in cash, a specified amount calculated in accordance with the terms of the applicable cash-settled equity swap agreement, which such amount will be based upon a decrease in value of the Shares between the date of the applicable cash-settled equity swap agreement and the maturity date set forth therein or (ii) the Broker will be obligated to pay to the Reporting Persons, in cash, a specified amount calculated in accordance with the terms of the applicable cash-settled equity swap agreement, which such amount will be based upon an increase in value of the Shares between the date of the applicable cash-settled equity swap agreement and the maturity date set forth therein. In addition, one or more of the Reporting Persons may from time to time enter into one or more additional cash-settled equity swap agreements with the Broker, or with other third parties, that result in a further increase in the economic exposure of the Reporting Persons to changes in the value of the Shares, or that result in a decrease in the economic exposure of the Reporting Persons to changes in the value of the Shares, and which