You are here: / takeover

Posts

Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic

,
PublicDomainPictures; Pixabay

The day after Goodyear announced that it is buying Cooper Tire for north of $2.5 billion, Fitch Ratings affirmed its Long-Term Issuer Default Ratings of The Goodyear Tire & Rubber Company (GT) and its Goodyear Europe B.V. (GEBV). Fitch also affirmed its ratings on a number of specific funding lines. Both moves can be interpreted as partially affirming the Goodyear Cooper acquisition’s strategic logic – something that was described as compelling by the senior executives of both companies.

Read more

Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear and Cooper shares up 30% after takeover news
/by

Goodyear and Cooper shares up 30% after takeover news

,
Google Finance

Goodyear’s takeover of Cooper Tire has been positively received by the stock markets, with Cooper’s share price jumping 31.8 per cent from 43.81 before the news was announced to $57.75 two days later. Goodyear‘s share price also swelled, up 28.9 per cent from $13.52 beforehand to $17.43 48 hours after the takeover news was released.

Read more

Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Dunlop Aircraft Tyres confirms sale talks
/by

The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron

,
Goodyear

Explaining the rationale behind Goodyear’s multi-billion dollar acquisition of Cooper Tire, executives said the combination offers “compelling strategic and financial benefits”. Specifically, they suggested the transaction “further strengthens Goodyear’s leading position in the US, while significantly growing its position in other North American markets.” With just two home-grown domestic tyremakers in the US (Goodyear and Cooper), that much is clear. However, the benefits of the announced merger are not limited to North America. In China, the combination will almost double Goodyear’s presence. According to Goodyear, it will also increase the Akron, Ohio-based tyremaker’s OE tyre supply position, while creating broader distribution for Cooper replacement tyres through Goodyear’s network of 2,500 branded retail stores.

Read more

Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear implements direct online sales in US
  3. Veyance Expands Presence into South America
  4. Kumho Raises US Prices
/by

Goodyear set to buy Cooper Tire for US$2.5 billion

,

The Goodyear Tire & Rubber Company and Cooper Tire & Rubber Company have made “a definitive transaction agreement” that will see Goodyear buy Cooper for roughly $2.5 billion. The combined company will have approximately $17.5 billion in pro forma 2019 sales. Upon closing of the transaction, Goodyear shareholders will own approximately 84 per cent of the combined company, and Cooper shareholders will own approximately 16 per cent.

Read more

Related news:

  1. Goodyear implements direct online sales in US
  2. Dunlop Aircraft Tyres confirms sale talks
  3. Doublestar back in pole-position for Kumho purchase
  4. Cooper takes suitor Apollo to court
/by

Wall Street Wolves with a taste for tyres…Goodyear & the hostile takeover attempt of 1986

,
Goodyear

Robert (Bob) Mercer died in August 2020, aged 96. Reason enough to shed light again on Goodyear’s darkest hour and the effect it has had on the company up to the present day.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Goodyear defers dividend as volumes drop 18% in Q1 2020
  2. Titan to Trump: We’re not the Goodyear you want to avoid
  3. Goodyear: Protect our good name – Bad year for the White House tweeter
  4. Zhongce Rubber enters global top ten tyre manufacturers
/by

Univergomma acquires Overgom

,

Univergomma recently completed the acquisition of 100 per cent of Overgom’s shares. Overgom, founded in 1977 by Arenzo Girardi as a regional wholesaler, has grown over the years to become a leading tyre distributor in Italy and abroad.

Read more

Related news:

  1. ChemChina’s latest Pirelli shares held indirectly
  2. ChemChina now holds 30% of Pirelli shares
  3. Pirelli is now Chinese owned
  4. Pirelli reverse merges with Marco Polo
/by

Doublestar back in pole-position for Kumho purchase

,

Having previously been ruled out of the running to buy Kumho Tire, Qingdao, China-based manufacturer Doublestar Tire is once again in pole-position to buy the South Korean tyremaker. “Doublestar Tire is the best option in view of a fast restoration of Kumho Tire and its corporation in China and the minimization of our losses”, Kumho’s creditors said in a widely reported statement.

Read more

Related news:

  1. Doublestar the only bidder left to buy Kumho
  2. Acquisition ugliness: Kumho Tire execs threaten mass resignation
  3. Kumho Tire proposal ‘tentatively’ accepted
  4. Why Doublestar’s Kumho purchase is a good idea
/by

Kumho takeover implosion isn’t the end of market consolidation attempts

, , ,

No I am not talking about the unqualifiable rumours that Doublestar made an offer of up to 250 million euros for Zenises. Rather, that in the first week of September we learnt that Doublestar’s proposed acquisition of Kumho was collapsing before the firm’s eyes after the Qingdao-Chinese tyre manufacturer asked for a double-digit discount. And it is also worth considering what all this means for the wider tyre manufacturing sector.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Giti enters the top 10 of leading tyre manufacturers
  2. 2015 tyre manufacturer rankings: Stability at the top?
  3. 4×4 or SUV tyre sector?
  4. Triangle returns to China car tyre top 10, Michelin retains top spot
/by

Apollo Tyres ‘has no intention’ of entering Kumho acquisition race

Apollo Tyres has denied reports published in India’s Economic Times suggesting that it is about to enter the race to acquire Kumho Tire. An Apollo spokesperson told Tyres & Accessories: “Apollo Tyres strongly denies the story headlined ‘Apollo Back in Kumho Race as Geopolitics Sours China Deal’ that appeared in the print edition of The Economic Times on 2 October, 2017.

Read more

Related news:

  1. Reports: Doublestar/Kumho acquisition close to collapse
  2. Doublestar back in pole-position for Kumho purchase
  3. Doublestar the only bidder left to buy Kumho
  4. Kumho takeover implosion isn’t the end of market consolidation attempts
/by

Reports: Doublestar/Kumho acquisition close to collapse

,

Doublestar’s proposed acquisition of Kumho is reportedly close to collapse after the Qingdao-Chinese tyre manufacturer asked for a double-digit discount. According to reports in the Nikkei, Kumho’s major shareholders are planning to write to Doublestar asking the firm to agree to the end of bid talks between the two parties.

Read more

Related news:

  1. Apollo Tyres ‘has no intention’ of entering Kumho acquisition race
  2. Doublestar back in pole-position for Kumho purchase
  3. Doublestar the only bidder left to buy Kumho
  4. Kumho takeover implosion isn’t the end of market consolidation attempts
/by

Doublestar the only bidder left to buy Kumho

, ,

Speaking off the record, Chinese executives within Qingdao Doublestar have confirmed the company’s intentions to purchase well-known South Korean tyre manufacturer Kumho Tyre and that it is “now only Doublestar left to buy Kumho”. However, at roughly the same time, Korean newspapers have been reporting that Doublestar probably won’t have the right to use the Kumho brand name post-acquisition. With all this in mind, Tyres & Accessories summaries the story so far.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Doublestar back in pole-position for Kumho purchase
  2. Why Doublestar’s Kumho purchase is a good idea
  3. Dunlop Aircraft Tyres confirms sale talks
  4. Kumho takeover implosion isn’t the end of market consolidation attempts
/by

Dunlop Aircraft Tyres confirms sale talks

, , , , , ,

Birmingham-based Dunlop Aircraft Tyres Ltd (DATL) has confirmed that the company is looking for new investors. And this means that “initial discussions” with “a number of interested parties” are already underway.

According to the company’s executive chairman Ian Edmondson, the goal is to find a suitable partner to help the company continue to move forward at its current rate of positive growth: “Our shareholders are now seeking to find a new investor who is in a position to help the business maintain the outstanding growth record that it has delivered in recent years.”

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Ready for take-off: is Dunlop Aircraft Tyre Ltd (DATL) up for sale?
  2. Dunlop Aircraft Tyres to open US retread facility
  3. Conti’s Bandvulc purchase results in UK market remoulding
  4. Dunlop Aircraft Tyres sold to Liberty Hall Capital Partners for US$135 million
/by

Knorr-Bremse ups ante by bidding for Haldex

, ,

Knorr-Bremse AG has made a takeover offer for all shares in Haldex. Knorr-Bremse is offering 110.00 Swedish krone per Haldex share, 10.0 per cent higher than ZF Friedrichshafen AG’s offer of 100.00 krone per Haldex share.

Read more

Related news:

  1. Credit Crunch Puts Brakes on Schaeffler/Continental Deal
  2. Dunlop Aircraft Tyres confirms sale talks
  3. ‘Financial Irregularities’ Caused Broadway’s Demise
  4. LSUK Goes into Administration
/by

Continental buys Bandvulc

, ,

Continental Tyre Group has bought Bandvulc (B.V. Environmental Ltd.), one of only two substantially sized independent retreaders in the UK. Not only does the deal change the face of UK tyre retreading, it also has a significant impact on commercial vehicle tyre market shares owing to the fact that Continental can now count Bandvulc’s strong fleet management, service provider and independent truck tyre retreader amongst its own. The takeover will establish Bandvulc as a wholly owned subsidiary of Continental UK Group Holdings Limited. T&A understands Bandvulc’s existing management team are to continue to lead the business.

Membership Required

If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. Conti’s Bandvulc purchase results in UK market remoulding
  2. Continental and Bandvulc management comment on integration process
  3. Arthur Gregg new Bandvulc MD
  4. Bucking the trend: how UK retreaders like Bandvulc are navigating market storms
/by

Alcar takes over DBV Würzburg GmbH

,

On 9 June Alcar Deutschland GmbH took over 100 per cent of DBV Würzburg GmbH’s tyres, rims and lubricants business units in a bid to expand its distribution network. DBV’s filling stations business unit will remain with Andreas Bathon, the company’s former owner. As well as expansion in general, as a result of the takeover, Alcar Deutschland has set a course for the strategically important fitted units business segment and hopes to increase online sales, while also expanding the Alcar Group’s own product range.

Read more

Related news:

  1. Spotlight on the Chinese Alloy Wheel Market
  2. EVO Corse takes over Arcasting racing line
  3. Alcar MD Norbert Frohner departs
  4. New Timax Catalogue Published
/by

We see you are visiting us from China.

If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.