News

Cooper Tire, Owner of Trayal Krusevac, to be Sold to Goodyear Tire for USD 2.8 Billion

Tuesday, 23. Feb 2021.

The American producer of tires for motor vehicles Goodyear Tire has announced that it will buy the rival company Cooper Tire in a USD 2.8 billion deal to strengthen its presence in North America and China, Reuters reports.

Under the terms of the deal, Cooper shareholders are to get USD 41.75 per share in cash and stocks at the fixed rate of one Cooper share for 0.907 of the value of a regular Goodyear share.

The implied cash and stock consideration for Cooper shareholders is USD 54.36 per share, representing a premium of 24% to its closing price on February 19.

After the deal closes, Goodyear shareholders will own about 84% of the combined company, headquartered in Ohio, while Cooper shareholders will own about 16%.


Source: eKapija

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