Goodyear acquiring Cooper for $2.5B

Goodyear Tire & Rubber announced today that it has reached an agreement to buy Cooper Tire & Rubber Co. for $2.5 billion. Akron-based Goodyear is the third largest tiremaker in the world with annual sales totaling $13.7 billion in 2019, while Cooper ranked 13th worldwide with annual sales of $2.75 billion in 2019. The purchase has been approved by the Board of Directors of both companies. The combined company will have approximately $17.5 billion in sales, based on 2019 figures, according to Goodyear.