ACZL
UPstate,NY
Senior Member
Joined: 10/09/2001
View Profile
Good Sam RV Club Member
 Offline
|
Goodyear to Acquire Cooper Tire
February 22, 2021 • by Trucking Info Staff
After closing in the second half of the year, the combined tire company will be headquartered in Akron, Ohio. - Photo: Goodyear
After closing in the second half of the year, the combined tire company will be headquartered in Akron, Ohio.
Photo: Goodyear
The Goodyear Tire & Rubber Co. has entered into a definitive transaction agreement to acquire Cooper Tire & Rubber Co. in a deal valued at about $2.8 billion. The transaction, subject to customary closing conditions, is expected to close in the second half of the year.
The acquisition will expand Goodyear’s product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies’ strengths in the light truck and SUV product segments, Goodyear officials said in a press release.
Copper’s company portfolio of brands includes Cooper, Mastercraft, Roadmaster and Mickey Thompson.
Times are difficult. GPS fleet tracking helps make them easier.
Speak with top providers and receive pricing information to begin putting money back towards your bottom line.?
How many vehicles do you need to track? *
1-45-910-4950-99100-249250+
CONTINUE
“The addition of Cooper’s complementary tire product portfolio and highly capable manufacturing assets, coupled with Goodyear’s technology and industry leading distribution, provides the combined company with opportunities for improved cost efficiency and a broader offering for both companies’ retailer networks,” said Richard Kramer, Goodyear chairman, chief executive officer and president
After closing, the combined company will be headquartered in Akron, Ohio, but Goodyear expects to maintain a presence in Findlay, Ohio.
The companies are preparing for integration focused on continuity of manufacturing, operations and customer service, company officials said.
The combined company will have approximately $17.5 billion in pro forma 2019 sales.
Under the terms of the transaction, 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 for a total equity value of approximately $2.8 billion. Based on Goodyear’s closing stock price on February 19, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Cooper shareholders is $54.36 per share. Upon closing of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%.
2017 F350 DRW XLT, CC, 4x4, 6.7
2018 Big Country 3560 SS
"The best part of RVing and Snowmobiling is spending time with family and friends"
"Catin' in the Winter"
|
Lwiddis
Bishop area, California
Senior Member
Joined: 08/12/2016
View Profile
Good Sam RV Club Member
 Online
|
Less competition is never a good thing. Sorry to hear this.
Winnebago 2101DS TT & 2020 Chevy Silverado 1500 LTZ Z71, 300 watt solar-parallel & MPPT, Trojan T-125s. TALL flag pole. Prefer USFS, COE, BLM, NPS, TVA, state & county camps. Bicyclist! 14 year Army vet-11B40 then 11A - (MOS 1542 & 1560) IOBC & IOAC grad
|
blt2ski
Kirkland, Wa
Moderator
Joined: 03/15/2001
View Profile
Offline
|
Oh dear. Hope cooper quality does not suffer.
Marty
|
thomasmnile
Lake Mary, FL
Senior Member
Joined: 05/14/2009
View Profile
Good Sam RV Club Member
Offline
|
blt2ski wrote:Oh dear. Hope cooper quality does not suffer.
Marty
Indeed. Put them on my truck, used them on the wife's car, quality tire but not insanely expensive.
But does this mean an end to those weird as hell Cooper commercials?
|
ktmrfs
Portland, Oregon
Senior Member
Joined: 06/22/2005
View Profile
Offline
|
Cooper does have a very good reputation and their tires are good quality and good value for the price. There are also a lot of "house brand" tires that are made by cooper.
Personally I think they suffer from not being a large well known international brand and hence often get overlooked by people looking for quality tires.
Hope that only get better with the merger, not worse!
2011 Keystone Outback 295RE
2004 14' bikehauler with full living quarters
2015.5 Denali 4x4 CC/SB Duramax/Allison
2004.5 Silverado 4x4 CC/SB Duramax/Allison passed on to our Son!
|
|
|
Old-Biscuit
Verde Valley
Senior Member
Joined: 06/20/2009
View Profile
|
Used to run Cooper on all my trucks/Broncos in the 1980's/1990's
Great tire---then!
After no longer FTng and time for new shoes I decided to not go with Michelin and get a set of Coopers
Hate them.......will not use Cooper again
They are NOT same Cooper as before
Can't see GY Improving them
On cold mornings they feel square until they Finally warm up then a bit better
They do NOT wear as well as the Michelins did
And had to have tire shop re-balance/rotate on rim/balance and try again
They had a tough time getting them balanced W/O hanging HUGE amounts of weights
Nope.....Cooper are NOT the same Coopers
Is it time for your medication or mine?
2007 DODGE 3500 QC SRW 5.9L CTD In-Bed 'quiet gen'
2007 HitchHiker II 32.5 UKTG 2000W Xantex Inverter
US NAVY------USS Decatur DDG31
|
alexleblanc
Shediac N.B
Senior Member
Joined: 01/31/2011
View Profile
Offline
|
Old-Biscuit wrote:Used to run Cooper on all my trucks/Broncos in the 1980's/1990's
Great tire---then!
After no longer FTng and time for new shoes I decided to not go with Michelin and get a set of Coopers
Hate them.......will not use Cooper again
They are NOT same Cooper as before
Can't see GY Improving them
On cold mornings they feel square until they Finally warm up then a bit better
They do NOT wear as well as the Michelins did
And had to have tire shop re-balance/rotate on rim/balance and try again
They had a tough time getting them balanced W/O hanging HUGE amounts of weights
Nope.....Cooper are NOT the same Coopers
my experience with Cooper tires has been much the same, I've had sets on different cars and trucks and they have al left me disappointed with wear issues, trouble balancing and poor performance. I'll stick with other brands for now.
TV - 17 F350 CCSB SRW Platinum 6.7 + 5er - 15 Durango 296BH + B&W Companion
others - 17 Shelby GT350 | 21 Expedition Max Platinum | 14 Mustang GT | 87 Regal GN | 37 Plymouth Coupe | 21 Maverick X3 DS Turbo R | 12 John Deere 1023E
|
cummins2014
Utah
Senior Member
Joined: 02/20/2008
View Profile
Good Sam RV Club Member
Offline
|
blt2ski wrote:Oh dear. Hope cooper quality does not suffer.
Marty
Hopefully they won't use the same mold as the G614's ![[emoticon]](https://forums.goodsamclub.com/sharedcontent/cfb/images/biggrin.gif "biggrin")
|
garyp4951
TN
Senior Member
Joined: 12/06/2010
View Profile
Offline
|
I have Cooper tires on both of my vehicles, and will purchase them again.
|
1320Fastback
Vista, Ca
Senior Member
Joined: 12/04/2016
View Profile
Offline
|
I like Cooper tires. Have them on my Jetta and my old Mustang. I mounted and balanced them and they are first rate tires for sure. The hankook that came off the Jetta were really thin feeling compared to the coopers and the BFGs that were on the Mustang were 12 years old so they were just unsafe. Lol
1992 D250 Cummins 5psd
2005 Forest River T26 Toy Hauler
|
|
|
