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Apr 28

Goodyear’s purchase of Cooper Tire gets Chinese antitrust approval

Apr. 27—Goodyear Tire & Rubber Co’s proposed acquisition of Cooper Tire & Rubber Co. has received approval from China’s State Administration for Market Regulation.

The Chinese antitrust agency approved the deal last last week.

Goodyear shareholders will own about 84% of the combined company, and Cooper shareholders will own 16%.

The merger is expected to close in the second half of this year.

Source: Yahoo!

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