Goodyear to Buy Rival Cooper for $2.8 Billion

Goodyear Tire & Rubber (NASDAQ: GT) will further secure its position as the biggest tire maker in the U.S. after announcing it will acquire the nation's fifth-largest tire company, Cooper Tire & Rubber (NYSE: CTB), for about $2.8 billion in a cash and stock deal.

The deal also nearly doubles Goodyear's presence in China, where sales of new cars and trucks are forecast to continue their recent surge.

Image source: Getty Images.

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Source Fool.com