Apollo Tyres, Cooper Tire Spar Over $2.5B Tie-Up Price

Law360, New York (October 7, 2013, 12:35 PM EDT) -- A $2.5 billion tie-up that would fold Cooper Tire & Rubber Co. into Apollo Tyres Ltd. is in flux after the buyer proposed a significant price cut amid ongoing labor disputes weighing down the approval process in the U.S. and China, the target said Monday.

India-based Apollo last week asked Cooper to hack more than $2.50 off the $35-per-share purchase price, saying over the weekend it deserved to renegotiate the consideration in light of holdups with Cooper's unionized workers in the U.S. and others in China...
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