Will the deal between Apollo Tyres Ltd. and Cooper Tire & Rubber Co. go through? We will find out Sept. 30, 2013, when Cooper holds a special meeting of stockholders to consider and vote on the previously announced merger.
Cooper stockholders of record as of the close of business Aug. 30, 2013, will be entitled to vote at the special meeting, which will take place at the law offices of Jones Day in Cleveland, Ohio, at 10 a.m. EST.
“Having already received the U.S. and foreign regulatory clearance necessary to close the transaction, we are pleased to announce another step toward finalizing the merger with Apollo Tyres," says Cooper Chairman, CEO and President Roy Armes.
"When completed, the transaction will join two great companies to create a global leader in tire manufacturing and distribution. Our combined company will offer customers a comprehensive portfolio of products and brands in the world’s largest tire market of North America as well as the fastest growing geographies of China and India, among others."
Apollo announced the proposed acquisition of Cooper on June 12, 2013, following unanimous approval by the boards of directors of both companies.
In a pair of exclusive interviews, Modern Tire Dealer Editor Bob Ulrich discovered what dealers in the United States can expect from Cooper Tire in the future. To find out for yourself, check out the following links:
"When David buys Goliath" (from Apollo's perspective).
"A call to Armes" (from Cooper's perspective).
