Cooper Tire Fights To Save $2.5B Apollo Tyre Merger

Law360, Wilmington (November 5, 2013, 10:24 PM EST) -- Cooper Tire & Rubber Co.'s chief executive testified Tuesday that Apollo Tyres Ltd. was aware of the inherent risks of its planned $2.5 billion acquisition, kicking off a trial in Delaware Chancery Court over Cooper's bid to enforce the merger agreement.

Announced in June and slated to close Oct. 4, the deal has been hanging since Apollo sought to shave more than $2.50 per share off its $35-per-share offer, in the wake of disruptions at Cooper's Chinese subsidiary and the need to renegotiate a pair of...
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