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Cooper shares up 40% following acquisition announcement

Author: Tyrepress Editors Comments: 0

In premarket trading on 12 June, shares in Cooper Tire & Rubber Co. surged 40.3 per cent to US$34.45 per share following news of Apollo Tyres Ltd’s agreement to acquire the company for around $2.5 billion, or $35.00 a share, in cash. Shares in rival tyre maker Goodyear Tire & Rubber Co. also rose six per cent following the Apollo/Cooper deal’s announcement.

Related news:

Related news:

  1. Cooper Tire keeps ‘neutral’ rating
  2. Separate Cooper contracts required before Apollo deal proceeds
  3. Apollo buying Cooper Tire, report sources
  4. Apollo share price falls 21% after news of Cooper deal
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Apollo to buy Cooper for US$2.5 billion The Cooper/Apollo gossip was right