No, The Goodyear Tire & Rubber Company completed the acquisition of Cooper Tire & Rubber Company, not the other way around.
The Strategic Acquisition in the Tire Industry
On June 7, 2021, The Goodyear Tire & Rubber Company finalized its merger agreement to acquire Cooper Tire & Rubber Company. This significant transaction positioned Goodyear to enhance its product portfolio, expand its global footprint, and strengthen its competitive position within the tire manufacturing industry.
Key Details of the Acquisition
The acquisition represented a major consolidation event in the tire sector, bringing together two established American tire companies.
| Entity Acquiring | Entity Acquired | Completion Date |
|---|---|---|
| The Goodyear Tire & Rubber Company | Cooper Tire & Rubber Company | June 7, 2021 |
This strategic move was aimed at creating a stronger combined entity, leveraging the distinct strengths and brands of both organizations. The agreement for this merger was initially made public on February 22, 2021, culminating in its completion a few months later. The integration of Cooper Tire into Goodyear's operations has since expanded Goodyear's overall capabilities in tire production and distribution.
