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TOLEDO, Ohio (AP) - Dana Corp. crashed to at least a 36-year-low on Friday when shares fell 52 percent in heavy trading amid reports that the struggling auto parts maker has hired a restructuring company.
Dana shares closed at $1.51, down $1.64, on the New York Stock Exchange. The shares have been as high as $17.03 in the past year. Volume was about 50 million shares, compared with average volume of 2.8 million shares.
The Toledo-based company has hired Miller Buckfire & Co., which often helps businesses facing financial trouble, The Wall Street Journal reported Friday, quoting people familiar with the matter.
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