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3 Firms Steer $2.5B Tie-Up For Tiremakers Goodyear, Cooper
Law360 (February 22, 2021, 10:53 AM EST) The Goodyear Tire & Rubber Co. plans to absorb fellow Ohio tiremaker Cooper Tire & Rubber Co. in a deal that features an enterprise value of $2.5 billion and was driven by Paul Weiss, Covington and Jones Day, the companies said Monday.
The transaction combines Akron, Ohio-headquartered Goodyear with Findlay, Ohio-based Cooper, creating a single midwestern U.S. tire giant with about $17.5 billion in pro forma 2019 sales, according to a statement. In Cooper, Goodyear picks up a company that was founded in 1914 and boasts being the fifth largest tire manufacturer in North America by revenue. Cooper s brands include Mastercraft,.