Press release
Investigation announced for Investors in shares of Cooper Tire & Rubber Company (NYSE: CTB) over Takeover
An investigation was announced concerning whether the takeover of Cooper Tire & Rubber Company is unfair to NYSE: CTB stockholders.
Investors who purchased shares of Cooper Tire & Rubber Company (NYSE: CTB) and currently hold any of those NYSE: CTB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cooper Tire & Rubber Company breached their fiduciary duties owed to NYSE: CTB investors in connection with the proposed acquisition.
Findlay, OH based Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells replacement tires in North America, Latin America, Europe, and Asia.
On February 22, 2021 The Goodyear Tire & Rubber Company (Nasdaq: GT) and Cooper Tire & Rubber Company (NYSE: CTB) announced that they have entered a transaction agreement under which Goodyear Tire & Rubber Company will acquire Cooper Tire & Rubber Company in a transaction with a total enterprise value of approximately $2.5 billion. Under the terms of the transaction, which has been approved by the Boards of Directors of both companies, Cooper Tire & Rubber Company shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear Tire & Rubber Company common stock per Cooper Tire & Rubber Company share for a total equity value of approximately $2.8 billion. Based on Goodyear Tire & Rubber Company’s closing stock price on February 19, 2021, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Cooper Tire & Rubber Company shareholders is $54.36 per share.
However, the investigation concerns whether the offer is unfair to NYSE: CTB stockholders. More specifically, the investigation concerns whether the Cooper Tire & Rubber Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Cooper Tire & Rubber Company (NYSE: CTB) shares have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
Investors who purchased shares of Cooper Tire & Rubber Company (NYSE: CTB) and currently hold any of those NYSE: CTB shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Cooper Tire & Rubber Company breached their fiduciary duties owed to NYSE: CTB investors in connection with the proposed acquisition.
Findlay, OH based Cooper Tire & Rubber Company, together with its subsidiaries, designs, manufactures, markets, and sells replacement tires in North America, Latin America, Europe, and Asia.
On February 22, 2021 The Goodyear Tire & Rubber Company (Nasdaq: GT) and Cooper Tire & Rubber Company (NYSE: CTB) announced that they have entered a transaction agreement under which Goodyear Tire & Rubber Company will acquire Cooper Tire & Rubber Company in a transaction with a total enterprise value of approximately $2.5 billion. Under the terms of the transaction, which has been approved by the Boards of Directors of both companies, Cooper Tire & Rubber Company shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear Tire & Rubber Company common stock per Cooper Tire & Rubber Company share for a total equity value of approximately $2.8 billion. Based on Goodyear Tire & Rubber Company’s closing stock price on February 19, 2021, the last trading day prior to the announcement, the implied cash and stock consideration to be received by Cooper Tire & Rubber Company shareholders is $54.36 per share.
However, the investigation concerns whether the offer is unfair to NYSE: CTB stockholders. More specifically, the investigation concerns whether the Cooper Tire & Rubber Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Those who are current investors in Cooper Tire & Rubber Company (NYSE: CTB) shares have certain options and should contact the Shareholders Foundation.
Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities lawsuits, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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