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.
Tags: Cooper Tire & Rubber Co
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Kossan Rubber Industries is preparing for a share buyback program following a bounce in the Malaysian ringgit that sent the shares of the company to its lower level from a record high in December.
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Cooper Tire & Rubber, Apollo Tyres go to trial today over buyout deal
Cooper Tire & Rubber and Apollo Tyres would be meeting in court today over its planned buyout deal.
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Apollo Tyres Ltd and Cooper Tire & Rubber Co could not seem to agree on the initial price of its buyout deal.
Cooper Tire & Rubber Co filed a complaint in the Delaware Chancery Court to compel Apollo Tyres in closing its acquisition transaction soon, said a Reuters report.
Cooper Tire & Rubber Co shareholders voted in favor of the proposed merger with Apollo Tyres Ltd yesterday, according to a Bloomberg report.
The Reserve Bank of India would scrutinize pending foreign deals after the steep fall in rupee's value.
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