The Auto Channel
The Largest Independent Automotive Research Resource
The Largest Independent Automotive Research Resource
Official Website of the New Car Buyer

Brad Ragan, Inc. Extends Termination Date

19 November 1998

Brad Ragan, Inc. Extends Termination Date


    CHARLOTTE, N.C.--Nov. 18, 1998--Brad Ragan, Inc. (ASE:BRD), announced today that it has extended to December 31, 1998, the termination date under the Share Exchange Agreement dated May 5, 1998 with The Goodyear Tire & Rubber Company.
    Pursuant to the Agreement, Goodyear would acquire all of the 556,924 shares of the Common Stock of the Company it does not own for a cash purchase price of $37.25 per share. Goodyear currently owns 74.5% of the Company's Common Stock.
    The Company also noted that proxy materials related to the Share Exchange Agreement and other matters will be distributed shortly to shareholders of record as of November 18, 1998.
    Brad Ragan, Inc. is the largest United States producer of retreaded tires for off-highway vehicles. The Company distributes new and retreaded off-the-road and truck tires through a network of 53 commercial outlets in 19 states. The Company also operates a chain of 117 retail stores in the southeast featuring products and services for the auto and home.