Apollo Tyres To Drop $2.5B On Cooper Tire

Law360, New York (June 12, 2013, 11:53 AM EDT) -- Apollo Tyres Ltd. plans to acquire Cooper Tire & Rubber Co. in a $2.5 billion all-cash deal that will create one of the largest tire companies in the world with newfound influence in the U.S., European Union and other burgeoning markets, the companies announced Wednesday.

The proposed merger positions the two companies to take on markets “with significant potential for growth,” such as  India, China, Africa and Latin America, the companies said. The India-based tire manufacturer will pay Cooper stockholders $35 per share in cash, a...
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