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Goodyear to buy Coopers Tyres

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Mad Manny
Location: Johannesburg
Posts: 3585
Joined: Thu Mar 29, 2018 9:31 am

Goodyear to buy Coopers Tyres

#1

Post by Mad Manny »

Goodyear Tire & Rubber Co. agreed to buy Cooper Tire & Rubber Co. a deal that Goodyear said would allow it to reduce costs and build out its businesses in the U.S. and China.

Goodyear said Monday it will pay about $2.8 billion in cash and stock for its smaller rival, including $41.75 a share in cash for Cooper’s shares, which rose about 30% to $56.86 in late morning trading. Goodyear’s shares increased 22% to $16.97.

The combined company would generate annual revenue of roughly $17.5 billion and have some 72,000 employees globally, according to an investor presentation. Cooper’s tire brands include its namesake line and Mastercraft.

Hope this will reduce the high price of Cooper's tyres
"No one ever got stuck - in mid air!"

2010 Fortuner D-4D 4x4 'Fearless'
2006 Conqueror Conquest 'Gearless'

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Wave
Location: Edenvale
Posts: 510
Joined: Thu Apr 05, 2018 4:23 am

#2

Post by Wave »

So the tyres will become even more expensive as Goodyear needs to recoup the purchase costs of Cooper
Geoff Craig
'09 Toyota Fortuner 3.0 D-4D 4x4
'10 Conqueror Comfort

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