Today's Paper Digital FAQ Coronavirus Updates Latest Obits HER Jobs Classifieds Newsletters Puzzles Circulars
ADVERTISEMENT
ADVERTISEMENT
story.lead_photo.caption In this May 2, 2007 file photo, Cooper tires are on display at Vermont Tire and Service Inc. in Montpelier, Vt. Goodyear Tire and Rubber Co. is acquiring Cooper tires in a deal valued at $2.5 billion that will combine the two century-old Ohio companies. (AP Photo/Toby Talbot, File)

FINDLAY, Ohio — Cooper Tire & Rubber Company stockholders have approved a planned merger with The Goodyear Tire & Rubber Company, the company announced Friday.

At a special meeting of Cooper stockholders, approximately 99 percent of votes cast were in favor of the transaction, first announced in February, a statement said. Goodyear is not required to hold a vote of its stockholders to approve the merger agreement.

"We are pleased with the strong support of our stockholders for the proposed business combination of Cooper and Goodyear as all proposals related to the acquisition were approved," Cooper Chairman John Holland said. "This step is an important one in the process of bringing together our two companies to continue to meet the needs of customers, consumers and other stakeholders around the world while driving value for shareholders."

Related Article

Goodyear acquires Cooper in all-American tire deal

Read more

Related Article

Official: Local Cooper plant will see little change in Goodyear acquisition

Read more

Cooper's Texarkana, Arkansas, plant has been in operation for more than 50 years. Of Cooper's three U.S.-based plants, Texarkana's has the largest number of employees with more than 1,500.

On Feb. 8, 2019, the the local plant celebrated the production of its 400 millionth tire, a Cooper Discoverer STT Pro extreme all-season, off-road performance tire. With this milestone, the Texarkana plant earned the honor of most tires produced by a single Cooper plant in the company's history.

Cooper and Goodyear continue to work toward closing the transaction, which remains subject to the receipt of required regulatory approvals and the satisfaction of customary closing conditions.

Cooper will provide final special meeting vote results, as certified by the independent Inspector of Election, on a Form 8-K that will be filed with the U.S. Securities and Exchange Commission.

COMMENTS - It looks like you're using Internet Explorer, which isn't compatible with our commenting system. You can join the discussion by using another browser, like Firefox or Google Chrome.
It looks like you're using Microsoft Edge. Our commenting system is more compatible with Firefox and Google Chrome.
ADVERTISEMENT
ADVERTISEMENT