Oct. 8, 1986: First rumors of a Goodyear Tire & Rubber Co. takeover hit Wall Street after the company’s stock closed the previous day at 36‡, a five-year high. Goodyear Chairman Robert E. Mercer sends a letter to employees saying, “We know of no takeover attempt by any individual or firm.”Oct. 24, 1986: As its stock continues to soar, Goodyear acknowledges that it might be the object of a takeover attempt. Sources close to Goodyear point to British financier Sir James Goldsmith, saying he could be accumulating a substantial interest in the company.Oct. 29, 1986: The Wall Street Journal reports Goldsmith owns 15 percent of the company. Mercer sends a letter to employees, confirming Goldsmith and possibly others have been involved in buying the company’s stock. Mercer says there is a “flaw in our free enterprise system which enables outsiders to buy up this country’s industrial base with its own assets.”Oct. 31, 1986: Goldsmith files with the Securities and Exchange Commission detailing financing for the takeover of Goodyear and plans to sell assets not related to tires. The filing comes one day after Goldsmith and Mercer meet secretly in New York City.Nov. 3, 1986: Goodyear puts its Celeron Corp. oil pipeline on the market to raise money to fend off Goldsmith’s bid.Nov. 5, 1986: Goodyear’s board authorizes the sale of Goodyear Aerospace Corp., Akron’s second-largest employer, and Motor Wheel Corp., based in Michigan, to raise money. The board also announces a plan to repurchase 20 million shares of stock.Nov. 6, 1986: Goldsmith offers $49 a share for remaining Goodyear stock. Mercer asks for two weeks to put a restructuring plan in place to drive the stock price over $50 a share.Nov. 18, 1986: A congressional subcommittee holds a hearing on corporate takeovers. U.S. Rep. John Seiberling, D-Akron, grandson of Goodyear co-founder F.A. Seiberling, asks Goldsmith: “Who the hell are you?”Nov. 20: Goodyear buys back Goldsmith’s 12.5 million shares for $49.50 apiece, or $619 million. Goodyear agrees to buy an additional 40 million shares from stockholders for $50 a share, costing the company $2 billion.1987: To reduce the takeover defense debt of about $2.6 billion, Goodyear sells:■ Goodyear Aerospace Corp. to New York-based Loral Corp. for $588 million. (In 1989, Loral sells Aircraft Braking Systems to a company called K&F Industries; in 2007, K&F sells Aircraft Braking to British-based Meggitt PLC. In 1996, Lockheed Martin Corp. acquires Loral Corp. and the Akron Airdock.)■ Onshore and offshore California oil and natural gas reserves of its Celeron Corp. to Exxon Corp. for $650 million. (Other oil and gas reserves also are sold.)■ Motor Wheel Corp. of Lansing, Mich., to a group of company managers for $175 million.■ A resort and related properties near Phoenix, Ariz., to SunCor Development Co. in a deal valued at $221 million.1992: Goodyear sells its polyester division to Shell Co.1998: Goodyear sells the remaining operations of Celeron, including the pipeline, for $420 million.2001: Goodyear sells its specialty chemicals business; eventually the business is bought by Eliokem of France. Omnova Solutions Inc. of Fairlawn buys the unit in late 2010.–Katie Byard