Titan International no Longer Wants European Shares

Titan International Inc. discontinued discussions regarding a potential offer for Titan Europe Plc’s outstanding ordinary shares. On April 12, Titan International Inc. filed a preliminary proxy regarding a potential offer for an exchange of stock to be made with Titan Europe Plc for all or a partial amount of 51% or more of Titan Europe’s outstanding ordinary shares. On September 10, the Titan International board of directors notified Titan Europe Plc that they were discontinuing discussions on the potential offer for Titan Europe Plc.

Titan International Inc. continues to focus its efforts on production of its new 57- and 63-inch giant steel belted radial tires, the company said. (Tire Review/Akron)