$100 Million-Plus Deals Dominate Biggest Deals of 2013 List

by Gwen Moritz  on Monday, Jan. 20, 2014 12:00 am  

One of those is the $2.2 billion bid for Cooper Tire & Rubber Co., whose Texarkana plant employs about 1,600 people. Apollo Tyres Ltd. of India announced in June its plan to buy Cooper Tire, but in December, Cooper called off the sale. Cooper, headquartered in Findlay, Ohio, has maintained that financing is now unavailable and that Apollo violated the terms of the sale agreement.

Another involves USA Truck of Van Buren, which in September rejected a buyout offer valued then at about $242 million from Knight Transportation of Phoenix.

McKissack said 2014 is “shaping up to be a good year” for mergers and acquisitions, noting that financing remains relatively available and relatively cheap.

In addition, he said, there is a pent-up demand for transactions given last year’s slow start with activity starting to pick up only in the second half of the year.

“All the ingredients for a great M&A market still exist,” McKissack said.



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