ArvinMeritor retracts offer to Dana

Automotive Industries, Dec, 2003

ArvinMeritor Inc. has retracted its $18.00 per share all cash tender offer to acquire all o[ the outstanding common shares of Dana Corp. following Dana's announcement that its board of directors recommends that its shareowners reject ArvinMeritor's increased offer.

No Dana shares were purchased by ArvinMeritor pursuant to the offer and all tendered shares will be returned promptly. According to the company, this was its final offer.