Goodyear Tire & Rubber Company’s $2.8 Billion Acquisition of Cooper Tire

Covington & Burling LLP and Paul, Weiss, Rifkind, Wharton & Garrison LLP advised Goodyear Tire & Rubber Company on the deal. Jones Day advised Cooper Tire & Rubber Company on the deal.Goodyear Tire & Rubber Company announced its acquisition of Cooper Tire & Rubber Company, a deal valued at approximately $2.8 billion in cash and stock.

The cash-and-stock transaction will combine the global companies’ complementary portfolio of well-known tire brands and solidify Ohio-based Goodyear’s position as the third-largest global tire maker based on revenue. It is expected to close in the second half of 2021, pending customary approvals and closing conditions.

Goodyear is one of the world’s largest tire companies. It employs about 62,000 people and manufactures its products in 46 facilities in 21 countries around the world.

Cooper Tire is the parent company of a global family of companies that specializes in the design, manufacture, marketing, and sale of passenger car, light truck, medium truck, motorcycle, and racing tires. Cooper’s headquarters is in Findlay, Ohio, with manufacturing, sales, distribution, technical, and design operations within its family of companies located in 15 countries around the world.

The Covington team included Peter Schwartz (Picture), Rachel Beller, Alicia Zhang, Coco Zhang, Matt Gehl, and David Engvall (finance and capital markets).

The Paul, Weiss team was led by corporate partners Scott Barshay, Kyle Seifried, Caith Kushner and David Huntington, and counsel Soo-ah Nahand Patricia Vaz de Almeida; litigation partner Jaren Janghorbani and counsel Peter Jaffe, Steven Herzog and Rachel Fiorill; executive compensation partners Jarrett Hoffman and Lawrence Witdorchic; antitrust partners Rick Rule and Joseph Bial, and counsel Marta Kelly; IP partner Charles Googe; tax partner Jeffrey Samuels and counsel Alyssa Wolpin; and environmental counsel William O’Brien.

The Jones Day team included James Dougherty and Benjamin Stulberg.

Involved fees earner: Rachel Beller – Covington & Burling; David Engvall – Covington & Burling; Matthew Gehl – Covington & Burling; Peter Schwartz – Covington & Burling; Alicia Zhang – Covington & Burling; James Dougherty – Jones Day; Benjamin Stulberg – Jones Day; Scott Barshay – Paul Weiss Rifkind Wharton & Garrison; Joseph Bial – Paul Weiss Rifkind Wharton & Garrison; Rachel Fiorill – Paul Weiss Rifkind Wharton & Garrison; Charles Googe – Paul Weiss Rifkind Wharton & Garrison; Steven Herzog – Paul Weiss Rifkind Wharton & Garrison; Jarrett Hoffman – Paul Weiss Rifkind Wharton & Garrison; David Huntington – Paul Weiss Rifkind Wharton & Garrison; Peter Jaffe – Paul Weiss Rifkind Wharton & Garrison; Jaren Janghorbani – Paul Weiss Rifkind Wharton & Garrison; Marta Kelly – Paul Weiss Rifkind Wharton & Garrison; Caith Kushner – Paul Weiss Rifkind Wharton & Garrison; Soo-ah Nah – Paul Weiss Rifkind Wharton & Garrison; William O’Brien – Paul Weiss Rifkind Wharton & Garrison; Rick Rule – Paul Weiss Rifkind Wharton & Garrison; Jeffrey Samuels – Paul Weiss Rifkind Wharton & Garrison; Kyle Seifried – Paul Weiss Rifkind Wharton & Garrison; Patricia Vaz de Almeida – Paul Weiss Rifkind Wharton & Garrison; Lawrence Witdorchic – Paul Weiss Rifkind Wharton & Garrison; Alyssa Wolpin – Paul Weiss Rifkind Wharton & Garrison;

Law Firms: Covington & Burling; Jones Day; Paul Weiss Rifkind Wharton & Garrison;

Clients: Cooper Tire & Rubber; Goodyear Tire & Rubber Company;

Martina Bellini

Author: Martina Bellini