For which I claim full credit

Last week, I bought a set of shiny new Cooper CS4 tires for Gwendolyn, and industrialists in India were evidently watching:

India’s Apollo Tyres [will] acquire Cooper, of Findlay, Ohio, for about $2.5 billion, or $35 a share. That would be a 43% premium to Cooper’s Tuesday close at $24.56.

Apollo is reported to be the 15th largest tire manufacturer worldwide, and Cooper the 11th; the combined company will rank seventh.

The sensible part of this deal, if you ask me — and why should you? — is that the existing Apollo and Cooper markets have hardly any overlap: Apollo does most of its business in India, and Cooper is almost entirely American-based, though it does own the British firm Avon Tyres.

Note: Not intended as an attempt to sell securities.







2 comments

  1. Dick Stanley »

    14 June 2013 · 5:10 am

    What, this is NOT an attempt to sell securities? Oh, excuse me, I though this was the Motley Fool site.

  2. CGHill »

    14 June 2013 · 7:42 am

    This place has its motleyness, and Lord knows I’m a fool, but the twain never have met on these premises.

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