Icahn Group Amends Dana Inc. Stake Filing
Ticker: DAN · Form: SC 13D/A · Filed: Aug 19, 2024 · CIK: 26780
Sentiment: neutral
Topics: activist-investor, amendment, ownership-filing
Related Tickers: DAN
TL;DR
Icahn filed an update on his Dana Inc. stake. Watch this space.
AI Summary
Carl Icahn's investment group, through various entities including Icahn Capital LP, has filed an amendment to their Schedule 13D, indicating a change in their beneficial ownership of Dana Inc. as of August 19, 2024. The filing does not specify the exact percentage or number of shares held, but it signifies an active stake by Icahn Enterprises in the automotive parts manufacturer.
Why It Matters
This filing signals continued investor interest and potential strategic involvement from a prominent activist investor in Dana Inc., which could influence the company's future direction.
Risk Assessment
Risk Level: medium — Filings from activist investors like Carl Icahn can lead to increased volatility and strategic shifts within the target company.
Key Players & Entities
- Icahn Capital LP (company) — Filing entity
- Icahn Enterprises G.P. Inc. (company) — Filing entity
- Icahn Enterprises Holdings L.P. (company) — Filing entity
- Icahn Offshore LP (company) — Filing entity
- Icahn Onshore LP (company) — Filing entity
- Icahn Partners LP (company) — Filing entity
- Icahn Partners Master Fund LP (company) — Filing entity
- IPH GP LLC (company) — Filing entity
- Dana Inc. (company) — Subject company
- Carl C. Icahn (person) — Filing person
FAQ
What specific changes in beneficial ownership are detailed in this SC 13D/A filing for Dana Inc.?
The filing is an amendment to a Schedule 13D, indicating a change in beneficial ownership, but the specific details of the change (e.g., number of shares, percentage) are not provided in the provided text snippet.
Which entities are listed as group members filing this amendment?
The group members listed are BECKTON CORP., ICAHN CAPITAL LP, ICAHN ENTERPRISES G.P. INC., ICAHN ENTERPRISES HOLDINGS L.P., ICAHN OFFSHORE LP, ICAHN ONSHORE LP, ICAHN PARTNERS LP, ICAHN PARTNERS MASTER FUND LP, and IPH GP LLC.
Who is the primary individual associated with the filing group?
Carl C. Icahn is listed as the individual associated with the filing group.
What is the business address and phone number for Dana Inc.?
Dana Inc.'s business address is 3939 TECHNOLOGY DRIVE, MAUMEE, OH 43537, and their business phone number is 419-887-3000.
What is the filing date and the date as of which the change is reported?
The filing date is August 19, 2024, and the date as of the change is also August 19, 2024.
Filing Stats: 760 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-08-19 17:42:16
Key Financial Figures
- $0.01 — rated (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securitie
- $1.5 million — requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations
- $500,000 — requiring him to pay a civil penalty of $500,000 and to cease and desist from committing
Filing Documents
- tm2421713d7_sc13da.htm (SC 13D/A) — 18KB
- 0001104659-24-090919.txt ( ) — 21KB
Identity and Background
Item 2. Identity and Background
of the Schedule 13D is hereby
Item 2 of the Schedule 13D is hereby amended and supplemented as follows: On August 19, 2024, Icahn Enterprises L.P. (“IEP”) and Carl C. Icahn entered into settlement agreements with the SEC, in connection with its inquiry previously disclosed by IEP. In connection with that settlement, the SEC entered an order in an administrative proceeding that contains non-scienter based findings that IEP failed to disclose in its Forms 10-K for the years 2018, 2019 and 2020 that Mr. Icahn pledged IEP securities as collateral to secure personal margin loans as required by Item 403(b) of Regulation S-K. The order relating to Mr. Icahn contains non-scienter based findings that, while Mr. Icahn’s prior Schedule 13D filings generally disclosed that he had pledged IEP depository units as collateral for personal margin loans, subsequent Schedule 13D filings were not amended to describe loan agreements and amendments to loan agreements or to attach guarantees as required by Items 6 and 7 of Schedule 13D. Without admitting or denying the SEC’s allegations (other than with respect to the SEC’s jurisdiction), under the terms of the settlements, (i) IEP consented to the entry of an order requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations and any future violations of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Rule 13a-1 thereunder, and (ii) Mr. Icahn consented to the entry of an order requiring him to pay a civil penalty of $500,000 and to cease and desist from committing or causing any violations of Section 13(d)(2) of the Exchange Act and Rule 13d-2(a) thereunder. SIGNATURE After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: August 19, 2024 ICAHN PARTNERS MASTER FUND LP ICAHN OFFSHORE LP ICAHN P