Sumitomo Rubber Industries to acquire Dunlop from Goodyear for $701m.

Sumitomo Rubber Industries, a rubber product manufacturing company, agreed to acquire Dunlop, a brand of tire, from The Goodyear Tire & Rubber Company, a tire manufacturing company, for $701m. "This is another important milestone as we continue to execute against our Goodyear Forward transformation plan. We are optimizing our portfolio and reducing leverage to drive sustainable and substantial shareholder value creation. Not only does the transaction deliver significant value for our shareholders, it better positions Goodyear to enhance our focus on the growth of our core brands," Mark Stewart, Goodyear Chief Executive Officer and President.