US: Goodyear underwriters exercise over-allotment option
Friday, May 18, 2007, AutomotiveWorld.com
Goodyear Tire & Rubber has announced that the underwriters of its public offering of over 22.73 million shares of its common stock have exercised in full the over-allotment option granted to them by the company.
Underwriters of the public offering will acquire an additional 3.41 million shares of common stock at the offer price of US$33 per share.
Goodyear expects the net proceeds from the offering, after deducting underwriting discounts and commissions, to be about US$834m. The company intends to use the net proceeds from the offering to repay about US$315m of debt in senior notes due in 2011 and 2015 and for general corporate purposes.
Published on Friday, May 18, 2007
Free e-newsletters
Our free E-Newsletter service is an excellent way of staying up to date with news and features from around the global auto industry.
