$GT to buy $CTB for $2.8B ($41.75 in cash & 0.9 shares of Goodyear common stock per share of Cooper stock). Goodyear expects about $165M in run-rate cost synergies within two years after the deal closes. Goodyear shareholders will own about 84% of the combined company while Cooper shareholders will own about 16%. The deal nearly doubles Goodyear's presence in China & broadens distribution for Cooper replacement tires through Goodyear's network of 2,500 retail stores in the country. US & China, the 2 largest tire markets in the world, account for about one-third of global industry volume. Cooper Tires is the 5th largest tire maker in North America based on revenue. Industry experts expect a rebound in auto demand this year, fueled by the rollout of COVID-19 vaccines, record low interest rates and healthy consumer savings as people held off spending money on large purchases during the pandemic. Lazard is serving as lead financial advisor for Goodyear while $GS is advising Cooper.