Apollo Tyres Labor Talks Didn't Breach Cooper Deal: Judge

Law360, Wilmington (November 08, 2013, 8:31 PM ET) -- Apollo Tyres Ltd. did not breach its $2.5 billion merger agreement with Cooper Tire & Rubber Co. by failing to reach a new labor deal with its union, a Delaware Chancery judge found Friday in a partial ruling from the bench.

Vice Chancellor Sam Glasscock III rejected Cooper's argument that Apollo was trying to string out negotiations with the United Steelworkers in an attempt to keep the merger from closing, finding Apollo had done its best reach a new labor pact as required.

“Apollo has in...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers

Required