AKRON, Ohio - Goodyear Tire and Rubber Co., the largest tire company in North America and third-largest in the world, is growing after announcing Feb. 22 it was acquiring Cooper Tire and Rubber Co. in a cash and stock deal valued at $2.8B. Goodyear expects to save about $165M within two years following the close of the transaction. The majority of the cost savings will be related to overlapping corporate functions and does not include manufacturing-related savings. There are no plans to close plants, including the Cooper Tire plant in Tupelo, Miss., which opened in 1984 and employs some 1,500 workers. (Source: Daily Journal 02/22/21) Goodyear to acquire Cooper Tire in $2.8 billion deal | Business | djournal.com
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