Editor’s note: This article has been updated with a comment from Continental AG spokesman on Oct. 12, 2016.

Cooper Tire & Rubber Co., which went through a messy failed merger deal less than three years ago, has been identified by one financial analyst as a potential takeover target for rival tiremaker Continental AG.

In response to a report from Reuters that Germany-based Continental could be looking for opportunities to buy more share in the replacement tire market, Northcoast Research analyst Nick Mitchell wrote that Cooper is one of the two most probable targets.

“While the theoretical list of potential acquirees is long given the seemingly endless number of manufacturers around the globe, we believe Kumho Tire and Cooper Tire & Rubber are the most likely targets,” Mr. Mitchell said in a recent report. For a variety of reasons, Mr. Mitchell wrote that Cooper would be the primary target between the two.

A spokesman for Cooper Tire told The Blade that, as a policy, the company doesn’t comment on market speculation or rumors.

In the Reuters story, Nikolai Setzer, the head of Continental’s tire division, was quoted as saying the company had the money to move forward with an acquisition and was focused on the replacement tire market but did not identify any particular company.

"We are targeting to grow faster than our underlying market, organically and as well — where we see value accretive fit — via [mergers and acquisitions]. Therefore we are constantly monitoring the market with regard to such good fits," company spokesman Alexander Bahlmann said. "However, we are not commenting on specific companies."

Continental is the world’s fourth-largest tire manufacturer, while Cooper is the world’s 12th largest. However, the two companies have the same 7 percent slice of the market for replacement tires in the United States.

Mr. Mitchell noted Continental acquiring Cooper Tire would “propel the company’s market share in the all-important U.S. passenger and light truck/​SUV replacement tire market from a middle-of- the-pack player to a market leader along with Michelin, Goodyear, and Bridgestone.”

Cooper Tire or not, Continental is paying attention to the U.S. market. The company announced this year it would built a $1.4 billion tire factory in Mississippi that would eventually employ 2,500 people.

If Cooper Tire is indeed on another firm’s radar, it would be the second time in less than three years.

In mid-2013, the company agreed to sell itself to Apollo Tyres Ltd. for $2.5 billion, but the deal fell apart over labor concerns in the U.S. and opposition from Cooper Tire’s Chinese subsidiary. Mr. Mitchell argues that the fact that the deal nearly happened shows Cooper Tire’s board is willing to talk to potential suitors.

The report hasn’t had much, if any, affect on Cooper Tire’s share price. After a dip to start the year, shares began rebounded in July and have slowly gained since then. Shares closed Monday at $38.60. Year to date, Cooper is up about 2 percent.

Contact Tyrel Linkhorn at tlinkhorn@theblade.com or 419-724-6134.

First Published October 11, 2016, 4:00 a.m.