(Reuters) - UAW members approved the deal by an 86 percent vote. It
covers more than 2,300 members and 6,200 retirees at eight Dana
locations in Indiana, Kentucky, Michigan, Missouri, Ohio,
Pennsylvania and Texas, the UAW said.
The deals include establishment of trusts to cover union
retiree health care and long-term worker disability. Dana will
contribute $704 million cash and $80 million common stock in
the reorganized company to cover about $1.1 billion in unfunded
nonpension benefit and long-term disability obligations.
Read more at Reuters.com Bonds News
covers more than 2,300 members and 6,200 retirees at eight Dana
locations in Indiana, Kentucky, Michigan, Missouri, Ohio,
Pennsylvania and Texas, the UAW said.
The deals include establishment of trusts to cover union
retiree health care and long-term worker disability. Dana will
contribute $704 million cash and $80 million common stock in
the reorganized company to cover about $1.1 billion in unfunded
nonpension benefit and long-term disability obligations.
Read more at Reuters.com Bonds News
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