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Slide #95. Apollo Tyres — Cooper Tire & Rubber Company
Cooper Tire & Rubber Company (NYSE:CTB)
Apollo Tyres Ltd (NSE: ApolloTYRE) and Cooper Tire & Rubber Company (NYSE:CTB) today announced the execution of a definitive merger agreement under which a wholly-owned subsidiary of Apollo will acquire Cooper in an all-cash transaction valued at approximately $2.5 billion. Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Cooper stockholders will receive $35.00 per share in cash. The transaction represents a 40% premium to Cooper's 30-day volume-weighted average price.
Hold (2.00 out of 4)