Cooper Tire & Rubber to be sold to The Goodyear Tire & Rubber Company for approximately $2.5 billion enterprise value
Clients Cooper Tire & Rubber Company
Jones Day is advising Cooper Tire & Rubber Company in its $2.5 billion sale to The Goodyear Tire & Rubber Company. 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. Upon closing of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%.