Under the terms of the deal, Cooper shareholders will receive $35 per share in cash. The price represents a 42 percent premium over Cooper’s Tuesday closing stock price.
Cooper shares jumped 40 percent in Wednesday premarket trading.
Findlay, Ohio-based Cooper says the deal is in the best interests of its shareholders.
The sale, which remains subject to Cooper shareholder and regulatory approvals, is expected to close in the second half of this year.
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