Cooper tire and microsoft

The two largest global tire manufacturers are Bridgestone and Michelin. James Picariello, analyst with KeyBanc in Cleveland, said he thinks the acquisition "represents the rare instance of a clear, great deal for both parties" in a note to clients, calling it a "clear win.

Picariello wrote. Cooper shareholders will benefit from a higher stock price, while Goodyear benefits by improving its marketing positions in the United States and China, and Cooper's strong mid-tier presence.

The deal, once it closes, is expected to immediately add to Goodyear earnings, he said. Industry analyst John Healy, with Northcoast Research Holdings, said in trade publication Modern Tire Dealer that adding Cooper gives Goodyear an opportunity to realign its brands in a way that it may not have been able to do otherwise. He also said it is too early to say if there will be plant closures but expects there will at least be "production alignments" at some point. Both Goodyear and Cooper shares strongly rose.

The deal is expected to close in the second half of the year, subject to regulatory and shareholder approvals. Goodyear said it will use a combination of cash on hand as well as new debt as part of the financing. The company has about 10, employees around the world and 10 factories.

The combined company will have about 72, employees and 56 factories around the world. The deal will strengthen Goodyear in the United States and will nearly double the company's presence in China, the Akron tire maker said. Adding Cooper increases the number of relationships with China automakers, the company said. The initial cost-savings does not include eliminating any manufacturing jobs or any factory closings, executives said.

Much of the savings will come from eliminating duplicative corporate and research and development functions, they said. Goodyear said the combined company will be headquartered in Akron but expects to maintain a presence in Findlay. The acquisition will add "the mid-tier power of the Cooper brand" particularly in light truck and SUV segments to Goodyear's premium replacement and original equipment tires, Goodyear said.

The deal will provide significant immediate and long-term financial benefits, create opportunities for expansion of some Cooper factories, and create additional revenue growth by adding Cooper brands to Goodyear's global distribution network, the company said.

Goodyear said it will be able to use available U. Kramer, Goodyear chairman, chief executive officer and president, said in the news release. Cooper's mid-tier products, including light truck and SUV, complements Goodyear's original equipment and premium brand replacement tires, the company said. The company said there will be opportunities to expand select Cooper factories to improve efficiency and flexibility. Goodyear said it will use available U. The combined company will help Goodyear with products and services for what it said are traditional and emerging original equipment manufacturers; autonomous driving system developers; fleet operators; and other mobility platforms.

Jim Mackinnon covers business. He can be reached at or jmackinnon thebeaconjournal. Missing dog found alive 6 days after landslide destroyed Seattle home. Wisconsin Gov.

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