Transport Topics Online
The Newspaper of Trucking and Freight Transportation
Welcome  Guest  Log In         
12/31/2013 8:45:00 AM Write a Letter to the Editor Write a letter to the Editor

Cooper Seeks Damages After Ending Apollo Tyres Merger Deal

Cooper Tire & Rubber Co.

Cooper Tire & Rubber Co. said it will pursue a $112.5 million “reverse termination fee” after ending its attempt to acquire Apollo Tyres.

The $2.5 billion acquisition deal had been in doubt for months after Cooper brought Apollo to court to force it to proceed, Bloomberg News said. Cooper announced Dec. 30 that it had ceased pursuing the purchase.

Cooper had blamed Apollo in court for trying to delay the acquisition by blocking Cooper from participating in union negotiations. A judge ruled in Apollo’s favor in November.

After Cooper’s Dec. 30 court filing seeking the termination fee, Apollo petitioned the court to block Cooper’s access to the money, Bloomberg said.

By Transport Topics

Follow Transport Topics on Subscribe to get up to the minute news briefs and more from our feeds. RSS Twitter Twitter Facebook Facebook

© 2013, Transport Topics Publishing Group. All rights reserved.



Follow Us


This free daily newsletter delivers the latest headlines.

TT Executive Suite
This subscriber-only newsletter program tailors your news.



© American Trucking Associations, Inc., All Rights Reserved Privacy Statement