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Goodyear to Buy Rival Cooper Tire for $2.8 Billion

Goodyear Tire & Rubber has decided to purchase Cooper Tire for about $2.8 billion in cash and stocks in order to reduce costs and build out its businesses domestically and in China. The combined company is expected to generate almost $17.5 billion and employ almost 72,000 people globally. The auto industry saw a decline from the pandemic, but analysts are projecting a rebound this year to “relatively normal” levels. Since announcing the acquisition, shares in both companies have risen sharply. | Read more