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Apollo Tyres’ arm to acquire Cooper Tire & Rubber Company

12 Jun 2013 Evaluate

Apollo Tyres has received an approval for execution of a definitive merger agreement under which a wholly-owned step subsidiary of the Company will acquire Cooper Tire & Rubber Company (Cooper), a company listed on the New York Stock Exchange, by means of a merger of such subsidiary into Cooper in an all-cash transaction valued at approximately $2.5 billion.

This strategic combination will bring together two companies with highly complementary brands, geographic presence, and technological expertise to create a global leader in tire manufacturing and distribution. The board of directors at its meeting held on June 12, 2013 has approved for the same.

Cooper is the 11th largest tyre company in the world by revenue and today supplies premium and mid-tier tyres worldwide through renowned brands such as Cooper, Mastercraft, Starfire, Chengshan, Roadmaster and Avon.

The combined company will be the seventh-largest tyre company in the world and will have a strong presence in high-growth end-markets across four continents. With a combined $6.6 billion in total sales in 2012, the combined company will have a comprehensive portfolio of signature brands and greater ability to cross-sell products in diverse countries with negligible overlap.

The company will be able to close the transaction only after certain conditions have been met and certain approvals, including regulatory and statutory approvals, are granted, wherever required. The closing of transaction is likely to take place in 2nd half of 2013.

Apollo Tyres Share Price

445.30 1.55 (0.35%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
MRF 139772.66
Apollo Tyres 445.30
CEAT 3713.55
Balkrishna Inds. 2329.80
JK Tyres & Inds. 428.30
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