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