Cooper Tire & Rubber sold to The Goodyear Tire & Rubber Company for approximately $2.5 billion enterprise value
Clients Cooper Tire & Rubber Company
Jones Day advised Cooper Tire & Rubber Company in its $2.5 billion sale to The Goodyear Tire & Rubber Company. Under the terms of the transaction, which were approved by the Boards of Directors of both companies, Cooper shareholders received $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 owned approximately 84% of the combined company, and Cooper shareholders owned approximately 16%.