Goodyear looks to raise $1.4bn to fund Cooper acquisition 

Akron, Ohio – The Goodyear Tire & Rubber Co. has started a private offering of $1.45 billion (€1.2 billion) to raise fund for the $2.5-billion acquisition Cooper Tire & Rubber.

The Akron-based tire maker will offer 8- and 10-year unsecured senior notes to ‘eligible purchasers’ to partially fund the cash portion of the deal, Goodyear announced 13 May.

The proceeds will also go towards paying fees and expenses in connection with the acquisition and other transactions related thereto.

Goodyear, did not disclose pricing terms for the notes, saying the issuance and sale of the notes were subject to market and other customary closing conditions.