Goodyear: agreement to acquire Cooper
(CercleFinance.com) - Tyre maker Goodyear has announced a definitive agreement to acquire Cooper in a deal with a total enterprise value of approximately 2.
5 billion dollars, which will expand its product offering by combining two complementary brand portfolios.
Under the agreed terms, Cooper shareholders will receive 41.75 dollars per share in cash and 0.907 Goodyear shares per Cooper share for a total equity value of approximately 2.8 billion dollars.
Subject to customary conditions, including regulatory and Cooper's shareholder approvals, the transaction is expected to close in the second half of 2021. Goodyear intends to finance the cash part of the transaction with debt.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
5 billion dollars, which will expand its product offering by combining two complementary brand portfolios.
Under the agreed terms, Cooper shareholders will receive 41.75 dollars per share in cash and 0.907 Goodyear shares per Cooper share for a total equity value of approximately 2.8 billion dollars.
Subject to customary conditions, including regulatory and Cooper's shareholder approvals, the transaction is expected to close in the second half of 2021. Goodyear intends to finance the cash part of the transaction with debt.
Copyright (c) 2021 CercleFinance.com. All rights reserved.