Cooper Tire aims to take over Standard Products

Article Abstract:

Cooper Tire & Rubber Co. has reached an agreement to acquire Standard Products Co. in a transaction worth approximately $584.4 million. The deal will expand Cooper Tire's nontire business. The deal is a cash-and-stock transaction. Under the terms of the deal, Cooper will take responsibility for Standard's debt which is worth $173 million. Cooper is the seventh-largest manufacturer of tires in the world.

Comment:

Cooper Tire to acquire Standard Products for $584.4 million

Asset sales & divestitures, All Other Rubber Product Manufacturing, Tire Manufacturing (except Retreading), Tires & Tubes, Fabricated Rubber Products NEC, Abstract, Rubber industry, Rubber products, Tires, Cooper Tire and Rubber Co., Standard Products Co.

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Continental AG buys Motorola automotive unit

Article Abstract:

Continental AG of Germany is to acquire for $1 billion the automotive-electronics business of Motorala Inc. of the United States. With the acquisition the German tire maker and auto-parts supplier will be pushing into the American market.

Telephone and telegraph apparatus, Germany, Tires and inner tubes, Company acquisition/merger, Telecommunications equipment industry, Motorola Inc., Continental AG, Company overview

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