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<blockquote data-quote="Weather Man" data-source="post: 16582230" data-attributes="member: 137766"><p><a href="https://seekingalpha.com/news/3664237-goodyear-to-acquire-cooper-tire-at-28b-valuation" target="_blank">Goodyear to acquire Cooper Tire at ~$2.8B valuation</a></p><ul> <li data-xf-list-type="ul">The Goodyear Tire & Rubber Company (NASDAQ:<a href="https://seekingalpha.com/symbol/GT" target="_blank">GT</a>) to acquire Cooper Tire (NYSE:<a href="https://seekingalpha.com/symbol/CTB" target="_blank">CTB</a>) for $41.75/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 ~$2.8B, the implied cash and stock consideration to be received by Cooper shareholders is <a href="https://seekingalpha.com/pr/18200898-goodyear-to-acquire-cooper-creating-stronger-u-s-based-leader-in-global-tire-industry" target="_blank">$54.36/share</a>.</li> <li data-xf-list-type="ul">The acquisition will expand Goodyear's product offering by combining two portfolios of complementary brands and will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies' strengths in the highly profitable light truck and SUV product segments.</li> <li data-xf-list-type="ul">Upon closing of the transaction, Goodyear shareholders will own ~84% of the combined company, and Cooper shareholders will own ~16%.</li> <li data-xf-list-type="ul">The transaction is immediately accretive to earnings per share and expected to achieve ~$165M in run-rate cost synergies within two years after closing.</li> <li data-xf-list-type="ul">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. We are confident this combination will enable us to provide enhanced service for our customers and consumers while delivering value for shareholders."</li> <li data-xf-list-type="ul">CTB shares up 12% and GT shares down 3% premarket.</li> </ul></blockquote><p></p>
[QUOTE="Weather Man, post: 16582230, member: 137766"] [URL='https://seekingalpha.com/news/3664237-goodyear-to-acquire-cooper-tire-at-28b-valuation']Goodyear to acquire Cooper Tire at ~$2.8B valuation[/URL] [LIST] [*]The Goodyear Tire & Rubber Company (NASDAQ:[URL='https://seekingalpha.com/symbol/GT']GT[/URL]) to acquire Cooper Tire (NYSE:[URL='https://seekingalpha.com/symbol/CTB']CTB[/URL]) for $41.75/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 ~$2.8B, the implied cash and stock consideration to be received by Cooper shareholders is [URL='https://seekingalpha.com/pr/18200898-goodyear-to-acquire-cooper-creating-stronger-u-s-based-leader-in-global-tire-industry']$54.36/share[/URL]. [*]The acquisition will expand Goodyear's product offering by combining two portfolios of complementary brands and will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies' strengths in the highly profitable light truck and SUV product segments. [*]Upon closing of the transaction, Goodyear shareholders will own ~84% of the combined company, and Cooper shareholders will own ~16%. [*]The transaction is immediately accretive to earnings per share and expected to achieve ~$165M in run-rate cost synergies within two years after closing. [*]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. We are confident this combination will enable us to provide enhanced service for our customers and consumers while delivering value for shareholders." [*]CTB shares up 12% and GT shares down 3% premarket. [/LIST] [/QUOTE]
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