Yokohama Said to Hold Talks for Goodyear’s OTR Tire Business
- Transaction could value assets at $1 billion to $1.5 billion
- Goodyear announced plans to restructure operations in November
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Yokohama Rubber Co. is in advanced talks to buy Goodyear Tire & Rubber Co.’s Off-the-Road tire business for at least $1 billion, according to people familiar with the matter.
The Japanese company has emerged as the likeliest buyer for Goodyear’s OTR business after other suitors dropped out, the people said, asking not to be identified discussing confidential information. A transaction could value the assets at $1 billion to $1.5 billion, the people said.