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Apollo Tyres headed for the highest price in more than six months in Mumbai trading after a Delaware court rejected an appeal by Cooper Tire & Rubber to force a $2.5 billion takeover by India's biggest tiremaker. Comment?
Cooper Tire & Rubber Co. asked the Delaware Supreme Court, in an appeal to the initial decision, to rule on its delayed $35-a-share takeover by Apollo Tyres Ltd. by Dec. 31. Cooper today appealed to Delaware's highest court seeking an expedited hearing, as the judge ruled Nov. 8 that all the contract conditions hadn't been met, and that Cooper ... (more) Comment?
After a debate over the takeover led to a US law suit, it looks like Cooper Tire & Rubber Co. Comment?
According to a witness, Apollo Tyres Ltd. sought to eliminate an obstacle to its $2.5 billion buyout of Cooper Tire & Rubber Inc. by offering to purchase Cooper's Chinese unit for $147 million. Comment?
With no compromise in sight yet, Cooper Tire & Rubber's dispute with India's Apollo Tyres Ltd. over a $2.5 billion buyout goes before a judge in a non-jury trial set to begin today in Delaware Chancery Court. Comment?
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