Eaton Corporation plc ETN → Mobility (USA) Corporation
| Parent | Eaton Corporation plc ETN |
|---|---|
| Spinco | Mobility (USA) Corporation |
| Status | Announced |
| Structure | Split-off An exchange offer: shares are not received automatically — holders must tender to take part. |
| Focus | Focus unclassified Deliberately unjudged. The industry codes and the businesses disagree, and this site does not resolve that by guessing. |
| Ratio | not declared |
| Checked against EDGAR | 2026-08-21 |
Data trap
Eaton has elected a split-off, so this will not be a pro rata dividend that every holder receives automatically: shareholders choose whether to tender Eaton shares in exchange for Mobility shares, and the exchange ratio is set when the offer commences, not now. A tool that assumes every holder receives shares on a record date will mis-handle it.
Still live.
Catalyst clock
- 2026-01-26Separation announced
- —Form 10 filed
- —Form 10 last amended
- —Form 10 effective
- —Record date
- —When-issued trading opens
- —Distribution
- —First standalone earnings
- —Index inclusion announced
Filings
Every fact on this page comes from one of these.
- 8-Kfiled 2026-01-26 · 0001140361-26-002286Item 7.01 announcing the plan to spin off the Mobility Group, comprising the Vehicle and eMobility segments, into an independent publicly traded company
- 8-Kfiled 2026-06-11 · 0000950142-26-001733Definitive Reverse Morris Trust agreements dated June 10, 2026 naming Mobility (USA) Corporation as SpinCo; Eaton shareholders to own at least 50.1 percent of the combined company with Dana
- 425filed 2026-07-31 · 0000950142-26-002234Confirms Eaton has elected the exchange-offer (split-off) route with a clean-up pro rata distribution if needed, and a first-quarter 2027 close
Notes
Announced as a spin-off on 2026-01-26, then converted into a Reverse Morris Trust with Dana Incorporated under definitive agreements announced 2026-06-11, with roughly $1.1 billion in cash going to Eaton. The distribution leg is now an exchange offer, elected by Eaton, followed by a clean-up pro rata distribution if the offer is undersubscribed. No registration statement of any kind exists for the spinco yet — no Form 10 and no S-4 — so nothing on EDGAR carries the exchange ratio. The announcement date corrects a widely repeated 2026-01-21: the Dana filing of that date is an investor-day deck, not this deal.