Cooper Tire & Rubber Co. has announced that its stockholders overwhelmingly voted to approve the agreement and plan of merger with The Goodyear Tire & Rubber Co., which was announced Feb. 22, 2021.
At a special meeting of Cooper stockholders last week, approximately 99 percent of votes cast were in favor of the transaction. Goodyear is not required to hold a vote of its stockholders to approve the merger agreement.
“We are pleased with the strong support of our stockholders for the proposed business combination of Cooper and Goodyear as all proposals related to the acquisition were approved,” said John Holland, Cooper chairman. “This step is an important one in the process of bringing together our two companies to continue to meet the needs of customers, consumers and other stakeholders around the world while driving value for shareholders.”
Cooper and Goodyear continue to work toward closing the transaction, which remains subject to the receipt of required regulatory approvals and the satisfaction of customary closing conditions.
