Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Rubber Division IEC
    • War in Ukraine
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • Airless Tires
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • Ask the Expert
    • Healthcare Elastomers Conference
    • Rubber In Automotive Conference
    • Women Breaking the Mold Networking Forum
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Financial
March 31, 2021 04:49 PM

Cooper shareholders to vote April 30 on Goodyear buyout

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    FINDLAY, Ohio—Cooper Tire & Rubber Co. is planning a special shareholders' meeting for April 30 during which shareholders will be asked to vote on Goodyear's offer to buy Cooper outright.

    As part of Cooper Tire's precautions regarding COVID-19, the special meeting will be a "virtual" meeting, according to information posted by Goodyear in an S-4 Registration Document filed with the Securities and Exchange Commission.

    Shareholders will need to register beforehand and obtain a pass code for the meeting. Details for that process are still being finalized.

    As reported previously, Goodyear has offered to buy all outstanding shares of Cooper Tire for $41.75 per share in cash plus 0.907 share of Goodyear stock. The offer represents a 24 percent premium over the prevailing share price on Feb. 19, the last full day of trading before the offer was made public.

    After the merger, Cooper Tire will become a direct, wholly owned subsidiary of Goodyear and will no longer be a publicly held company. Goodyear will issue up to approximately 46.4 million shares of Goodyear common stock to Cooper Tire stockholders in the merger.

    As a result of these issuances, current Goodyear shareholders and Cooper Tire stockholders are expected to hold approximately 84 percent and 16 percent, respectively, of the outstanding shares of Goodyear common stock following completion of the merger.

    In addition, following the merger, Cooper Tire common stock will be delisted from the New York Stock Exchange and will be deregistered under the Exchange Act.

    During the special shareholders' meeting, Cooper shareholders also will vote on a non-binding advisory proposal to approve the compensation that may be paid or become payable to Cooper Tire's named executive officers that is based on or otherwise relates to the merger.

    Cooper's regular annual shareholders' meeting is scheduled for May 7.

    Related Article
    Goodyear's purchase of Cooper Tire faces legal challenges
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Goodyear to trim jobs to address 'uncertain' economic outlook
    2
    Dow to cut 2,000 jobs in evaluation of 'global asset base'
    3
    Uzer Makina eyes North American market growth
    4
    ANRPC: Leaf disease outbreak could lead to 30% NR production loss
    5
    Methods to the madness: Smithers pins 4 processes for sustainable carbon black
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2023. Crain Communications, Inc. All Rights Reserved.
    • News
      • Rubber Division IEC
      • War in Ukraine
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • Airless Tires
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • Healthcare Elastomers Conference
        • Rubber In Automotive Conference
        • Women Breaking the Mold Networking Forum
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
      • Ask the Expert
    • Advertise
    • DIGITAL EDITION