secwatch.observer — SEC 8-K summary
======================================

Issuer:     GOODYEAR TIRE & RUBBER CO /OH/ (GT)
CIK:        0000042582
Form:       8-K
Filed at:   2024-07-22T23:59:59+00:00
Accession:  0001193125-24-181902
Event type: m_and_a
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Goodyear sells OTR tire business to Yokohama for $905M cash
-----------------------------------------------------------

- Transaction includes OTR manufacturing in Tatsuno, Japan and retread facility in North Bay, Canada.
- Goodyear retains OTR tire business for U.S. military and defense applications.
- Expected to close by early 2025, subject to regulatory approvals and customary conditions.
- Proceeds to be used to reduce leverage and fund Goodyear Forward transformation plan.
- Goodyear will supply certain OTR tires to Yokohama for up to 5 years post-closing under product supply agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/42582/000119312524181902/0001193125-24-181902-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/42582/000119312524181902/d874105d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-181902

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer