Goodyear to buy Cooper!
We just learned that Goodyear Tire & Rubber Co. has agreed to buy the Cooper Tire & Rubber Co. for about $2.8 billion US! By adding Cooper to its line-up, Goodyear gains the fifth-largest tire manufacturer in North America by revenue, with about 10,000 employees worldwide. Goodyear ranks third right now in North American tire sales by revenue, generating $5.1 billion US last year. Cooper posted North American tire sales of nearly $2.1 billion US.while Goodyear holds the top market share in North American original-equipment and replacement tires for passenger vehicles. According to the companies’ joint press release, the deal is expected to close during the second half of 2021 as long as it meets certain regulatory requirements. It must also be approved by Cooper shareholders.