India-based Apollo Tyres Ltd shares were down by 18% after the announced US$2.4 million deal to acquire Cooper Tire & Rubber Co. due to worries of the company's debt.
Tags: Apollo Tyres
Cooper Tire terminates merger talks with Indian manufacturer Apollo Tyres
US-based firm Cooper Tire & Rubber Company announced via press release that it has called off its merger plans with India-based manufacturer Apollo Tyres and will focus on building its business instead.
Delaware court issues ruling on Cooper-Apollo case
According to Judge Sam Glasscock, it found Cooper's allegations to be without merit as against the actions of Apollo in its buyout negotiations.
Apollo, Copper disagree on proposed price offer
Apollo Tyres and Cooper Tire & Rubber Co had been on a disagreement over a proposed decrease in price offered by Apollo to take over the US firm, reported Reuters.
Cooper Tire seeks court intervention to move Apollo Tyres to complete acquisition
A suit had been filed in the Delaware Chancery Court to compel Apollo to complete its acquisition of Cooper Tire.
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Apollo Tyres purchases the shares of Cooper Tire and Rubber to create the seventh largest tire company in the world.
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