Goodyear to Acquire Cooper Tire in Massive $2.5 BILLION Deal

Akron, OH – The Goodyear Tire & Rubber Company is acquiring Cooper Tire & Rubber Company in a deal valued at $2.5 billion.

On Monday the two tire giants announced that they have entered a definitive transaction agreement under which Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion.


Under the terms of the transaction, which has been approved by the Boards of Directors of both companies, Cooper shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear common stock per Cooper share for a total equity value of approximately $2.8 billion, a joint statement from the companies said.

Upon closing of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%.

Founded in 1914, Cooper is the 5th-largest tire manufacturer in North America by revenue with approximately 10,000 employees working in 15 countries worldwide.


Cooper products are manufactured in 10 facilities around the globe, including wholly-owned and joint venture plants.

The company’s portfolio of brands includes Cooper, Mastercraft, Roadmaster and Mickey Thompson.

“This is an exciting and transformational day for our companies,” said Richard J. Kramer, Goodyear chairman, chief executive officer and president. “The addition of Cooper’s complementary tire product portfolio and highly capable manufacturing assets, coupled with Goodyear’s technology and industry leading distribution, provides the combined company with opportunities for improved cost efficiency and a broader offering for both companies’ retailer networks.”


Brad Hughes, Cooper president & chief executive officer, added, “I am extremely proud of what our team has accomplished over the past 107 years and am grateful to our talented employees for their contributions and commitment. This transaction marks the start of a new chapter for Cooper, which we are entering from a position of strength.”


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The transaction is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals and the approval of Cooper shareholders.

The transaction is expected to close in the second half of 2021.



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