FINDLAY, Ohio—Cooper Tire & Rubber Co. filed a definitive proxy statement with the U.S. Securities and Exchange Commission and scheduled a special meeting of stockholders for Sept. 30 at 10 a.m. to vote on the merger with a subsidiary of Apollo Tyers Ltd.
Cooper stockholders of record as of the close of business of Aug. 30 are entitled to vote. The vote will be held at the law offices of Jones Day, 901 Lakeside Ave., North Point, Cleveland, Ohio.
Roy Armes, Cooer's CEO, chairman and president said the company is pleased to announce another step toward finalizing the agreement.
Cooper and Apollo announced the proposal on June 12 and both boards of directors voted unanimously to approve it. Apollo will pay about $2.5 billion and boost it to seventh in the global tire manufacturer rankings with combined sales of $6.6 billion in 2012.
Cooper stockholders will receive $35 per share, which represents a 40-percent premium to Cooper's 30-day volume-weighted average price.
The deal also cleared a mandatory review period, the Hart-Scott Rodino Act, which expired on July 26 without action from the Federal Trade Commission or the Department of Justice.