Shares of Cooper Tire & Rubber Company (CTB) are rising more than 27% Monday morning on the news of it getting acquired by Goodyear Tire & Rubber Company (GT).
As per the deal, Cooper shareholders will receive $41.75 per share in cash and a fixed exchange ratio of 0.907 shares of Goodyear common stock per Cooper share for a total equity value of about $2.8 billion.
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