Cooper Tire’s stockholders have voted to approve its pending merger with a wholly-owned subsidiary of Apollo Tyres Ltd
Apollo tyre with more than 74 per cent of Cooper’s outstanding common shares voted in favour of the transaction. When finalised, the pending merger will result in a strategic business combination that creates the seventh-largest tyre company in the world. Approximately 78 per cent of Cooper’s outstanding common shares were voted, with more than 48 million shares voted in favour of the merger, representing approximately 96 per cent of Cooper’s voted shares.

“We are pleased stockholders endorsed this compelling transaction, which will create a $6.6 billion leader in the tyre industry with a strong global footprint that includes a presence in the world’s largest tyre market of North America as well as in the fastest growing geographies of India and China,” said Cooper Chairman, Chief Executive Officer and President Roy Armes.