Dead deal; Titan sale talks end in face of opposition from big shareholder.(Titan International Inc., One Equity Partners L.L.C.)

From: Rubber & Plastics News | Date: April 17, 2006| Author: | Copyright information

Byline: Lisa Hockensmith

Talks to seal a proposed $350 million buyout of Titan International Inc. by a private equity firm have been terminated as Titan's largest shareholder continued to oppose the sale.

Titan announced April 12 the deal with One Equity Partners-an affiliate of JPMorgan Chase & Co. that offered $18 a share for Titan last October-broke down. In January, Titan said it expected the agreement to be completed by the end of February.

Instead, Quincy-based Titan said it will focus on integrating Goodyear's North American farm tire business, which Titan ...

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