It has been announced that Goodyear Tire & Rubber and Cooper Tire & Rubber have issued a joint statement that Goodyear will purchase Cooper Tire for an approximate USD 2.5 Billion. This huge transaction will mean that Goodyear Shareholders will own approximately 84 per cent of the combined companies and Cooper shareholders will own approximately 16 per cent.
The acquisition transaction has been approved by the Boards of Directors of Goodyear and Cooper and Richard J Kramer, Goodyear’s Chairman, CEO and President says, “The addition of Cooper’s impressive tyre product portfolio and manufacturing capabilities coupled with Goodyear’s technology and industry leading distribution will enable the combined companies to provide enhanced services for our customers and consumers.”
