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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D/A
(Amendment No. 6)
Under the Securities Exchange Act of 1934
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DANA CORPORATION
(Name of Issuer)
Common Stock, $1.00 Par Value Per Share
(Title of Class of Securities)
235811106
(CUSIP Number)
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with copies to:
Ken Maiman
Appaloosa Management L.P.
26 Main Street
Chatham, NJ 07928
(Name, Address and Telephone Number of Person
Authorized to Receive Notices of Communication)
SEPTEMBER 21, 2007
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
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Page 1 of 9
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CUSIP No. 235811106 13D
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1 NAME OF REPORTING PERSONS
Appaloosa Investment Limited Partnership I
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------ ------ ------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF SHARES ------ ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 11,992,500
PERSON WITH ------ ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
10 SHARED DISPOSITIVE POWER
11,992,500
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11,992,500
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.98%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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Page 2 of 9
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CUSIP No. 235811106 13D
------------------- ---------------------
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1 NAME OF REPORTING PERSONS
Palomino Fund Ltd.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
------------------------ ------ ------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF SHARES ------ ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 10,507,500
PERSON WITH ------ ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
10 SHARED DISPOSITIVE POWER
10,507,500
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,507,500
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.00%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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Page 3 of 9
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CUSIP No. 235811106 13D
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1 NAME OF REPORTING PERSONS
Appaloosa Management L.P.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------ ------ ------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF SHARES ------ ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 22,500,000
PERSON WITH ------ ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,500,000
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,500,000
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.98%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
----- --------------------------------------------------------------------------
Page 4 of 9
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CUSIP No. 235811106 13D
------------------- ---------------------
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1 NAME OF REPORTING PERSONS
Appaloosa Partners Inc.
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------ ------ ------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF SHARES ------ ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 22,500,000
PERSON WITH ------ ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,500,000
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,500,000
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.98%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
----- --------------------------------------------------------------------------
Page 5 of 9
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CUSIP No. 235811106 13D
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1 NAME OF REPORTING PERSONS
David A. Tepper
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
----- --------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
----- --------------------------------------------------------------------------
3 SEC USE ONLY
----- --------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
----- --------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
----- --------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
------------------------ ------ ------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF SHARES ------ ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING 22,500,000
PERSON WITH ------ ------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
------ ------------------------------------------------
10 SHARED DISPOSITIVE POWER
22,500,000
----- --------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,500,000
----- --------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
----- --------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.98%
----- --------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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Page 6 of 9
This Amendment No. 6 (this "Amendment") to the Schedule 13D filed on
June 22, 2007 by the Reporting Persons, as amended by Amendment No. 1 thereto
filed on June 29, 2007, by Amendment No. 2 thereto filed on July 19, 2007, by
Amendment No. 3 thereto filed on July 23, 2007, by Amendment No. 4 thereto filed
on July 26, 2007, and by Amendment No. 5 thereto filed on August 22, 2007 (as so
amended, the "Schedule 13D") relates to the Common Stock of the Issuer and is
being filed to amend the Schedule 13D as specifically set forth below.
The information set forth in the Exhibits to this Amendment is hereby
expressly incorporated herein by reference, and the responses to each item of
this Amendment are qualified in their entirety by the provisions of such
Exhibits. Unless otherwise indicated, all capitalized terms shall have the
meanings ascribed to them in the Schedule 13D, and unless otherwise amended
hereby, all information previously filed remains in effect.
ITEM 4. IS AMENDED BY ADDING THE FOLLOWING:
On September 21, 2007, pursuant to the Order Pursuant to 11 U.S.C.
Sections 1113 and 1114(e) and Federal Rule of Bankruptcy Procedure 9019,
Approving Settlement Agreements with The United Steelworkers and United
Autoworkers, and Pursuant to 11 U.S.C. Sections 105(a), 363(b), 364(c), 503 and
507, Authorizing the Debtors to Enter into the Plan Support Agreement,
Investment Agreement and Related Agreements, dated August 1, 2007,
AMLP delivered to counsel to the Issuer and to counsel to
the official committee of unsecured creditors of the Issuer a final proposal
letter (the "Final Proposal Letter"), together with drafts of (i) an Amended
Joint Plan of Reorganization of Debtors and Debtors in Possession, (ii) a Plan
Support Agreement, (iii) an Investment Agreement, (iv) a Shareholders Agreement,
(v) Articles of Designation with Respect to Preferred Stock, (vi) a Series A
Registration Rights Agreement, (vii) a Series B Registration Rights Agreement,
and (viii) a Market Maker Agreement (such draft documents, collectively with the
Final Proposal Letter, the "Final Proposal Documents"). In the Final Proposal
Letter, AMLP reaffirmed the offer set forth in its prior Indication of Interest
dated August 17, 2007, subject to certain modifications summarized in the Final
Proposal Letter.
Copies of the Final Proposal Documents are filed with this Amendment No. 6
as Exhibits 7 through 15 to the Schedule 13D.
While the Reporting Persons do not have any current plans or proposals,
except as otherwise described in the Schedule 13D, which relate to or would
result in any transaction, event or action enumerated in paragraphs (a) through
(j) of Item 4 of the form of Schedule 13D promulgated under the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), each of the Reporting
Persons reserves the right, in light of its or his ongoing evaluation of the
Issuer's financial condition, business, operations and prospects, the market
price of the Common Stock, conditions in the securities markets generally,
general economic and industry conditions, its or his business objectives and
other relevant factors, to change its or his plans and intentions at any time,
as it or he deems appropriate. In particular, and without limiting the
generality of the foregoing, but subject to the terms of applicable court
orders, restrictions and agreements and to any limitations imposed by applicable
law, including the Exchange Act, each of the Reporting Persons (and their
respective affiliates) may (i) purchase additional shares of Common Stock or
other securities of or claims against the Issuer, (ii) sell or transfer shares
of Common Stock or other securities or claims beneficially owned by it or him
from time to time in public or private
Page 7 of 9
transactions and (iii) cause any of the Reporting Persons to distribute in kind
to their respective stockholders, partners or members, as the case may be,
shares of Common Stock or other securities or claims owned by such Reporting
Persons. The Reporting Persons may seek the views of, hold discussions with, or
respond to inquiries from members of the Issuer's management or Board of
Directors or other persons including other stockholders, or holders of claims in
the Issuer's bankruptcy proceedings, regarding the Issuer's affairs,
restructuring or other strategic matters.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 of the Schedule 13D is supplemented as follows:
Exhibit No. Description
----------- ------------------------------------------------------------------
7 Letter from Appaloosa Management L.P. to Counsel to the Debtors
and Counsel to the Official Committee of Unsecured Creditors,
dated September 21, 2007
8 Draft Amended Joint Plan of Reorganization of Debtors and Debtors
in Possession
9 Draft Plan Support Agreement, by and among Dana Corporation,
United Steelworkers International Union, UAW, and Appaloosa
10 Draft Investment Agreement
11 Draft Shareholders Agreement
12 Draft Articles of Designation with Respect to the Preferred Stock
13 Draft Series A Registration Rights Agreement
14 Draft Series B Registration Rights Agreement
15 Draft Market Maker Agreement
Page 8 of 9
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: September 25, 2007
APPALOOSA INVESTMENT LIMITED
PARTNERSHIP I
By: APPALOOSA MANAGEMENT L.P.,
Its General Partner
By: APPALOOSA PARTNERS INC.,
Its General Partner
By: /s/ David A. Tepper
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Name: David A. Tepper
Title: President
PALOMINO FUND LTD.
By: APPALOOSA MANAGEMENT L.P.,
Its Investment Adviser
By: APPALOOSA PARTNERS INC.,
Its General Partner
By: /s/ David A. Tepper
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Name: David A. Tepper
Title: President
APPALOOSA MANAGEMENT L.P.
By: APPALOOSA PARTNERS INC.,
Its General Partner
By: /s/ David A. Tepper
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Name: David A. Tepper
Title: President
APPALOOSA PARTNERS INC.
By: /s/ David A. Tepper
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Name: David A. Tepper
Title: President
/s/ David A. Tepper
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David A. Tepper
Page 9 of 9