TOKYO (Reuters) – Japan’s Yokohama Rubber is in talks to buy Goodyear Tire & Rubber’s off-road tyre business for at least $1 billion, Bloomberg reported on Wednesday.
Yokohama Rubber’s shares fell as much as 7% before paring some losses to trade down 4.5% by late trade.
Yokohama Rubber declined to comment on the report.
(Reporting by Kaori Kaneko; Editing by Chang-Ran Kim)