Apollo Tyres and Cooper Tire & Rubber Co. have announced that the Hart-Scott-Rodino (HSR) review period for the pending merger of the two companies expired on July 26 with no action by the Federal Trade Commission or the Department of Justice.
The expiration of the HSR review period satisfies one of the conditions necessary for the transaction, announced on June 12, to close. Cooper and Apollo said they expect that, subject to the remaining customary closing conditions, the transaction will be completed before the end of the year.
“The strategic combination of Apollo and Cooper will bring together two companies with highly complementary brands, geographic presence, and technological expertise to create a global leader in tire manufacturing and distribution,” the companies said in a statement. “The combined company will have a full range of products, strong brands and greater ability to satisfy customer needs worldwide.”
