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Stock Market & Financial Investment News

News Breaks
January 31, 2014
08:38 EDTCTBCooper Tire to host conference call
Conference call to discuss the agreement with Chengshan Group Company which establishes a path going forward for the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) joint venture will be held on January 31 at 9 am. Webcast Link
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August 15, 2014
08:16 EDTCTBCooper Tire, Chengshan Group enter CCT option agreement
Cooper Tire & Rubber Company announced it has entered into an option agreement with Chengshan Group Company Ltd. that affirms and provides additional details regarding the previously announced put and call process to resolve the future ownership of Cooper Chengshan, or CCT, as contemplated by the January 29 agreement among the two companies and the CCT labor union. In addition, the new option agreement extends the option commencement deadline, which is the deadline for the independent valuation firm to deliver its fair market valuation of CCT, to August 24. The process for determining the future ownership of CCT begins with an independent valuation of the fair market value of CCT. Once the valuation is delivered, Chengshan has the first option, within 45 days, to elect to purchase Cooper’s 65% interest, to sell its 35% interest to Cooper, or not to exercise either of these options. If Chengshan determines not to exercise either of the options, Cooper has the right to purchase Chengshan’s 35% interest. In the event that neither party elects to purchase the others’ interest, the joint venture continues as currently structured. Further, should Chengshan purchase Cooper’s stake in the joint venture, Cooper will continue to have offtake rights with CCT agreeing to produce Cooper-brand products, including Truck and Bus Radial tires, for a minimum of three years.
August 11, 2014
17:47 EDTCTBCooper Tire extends CCT ownership option commencement deadline
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15:23 EDTCTBJPMorgan to hold a conference
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August 7, 2014
07:33 EDTCTBCooper Tire announces accelerated share repurchase program
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07:32 EDTCTBCooper Tire reports Q2 EPS 59c, may not compare to consensus 80c
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