Apollo Tyres Didn’t Breach Union Obligations, Judge Rules
A Delaware Judge ruled that Apollo Tyres didn’t breach its obligations to try to resolve a dispute with a labor union during its acquisition of Cooper Tire and Rubber Co., Bloomberg News reported.
Judge Sam Glasscock III said, “There’s no evidence that Apollo acted in bad faith” in trying to negotiate a contract with the United Steelworkers Union, according to Bloomberg.
Cooper Tire and Rubber Co. previously testified it could have expedited its $2.5 billion buyout by Apollo if it had been allowed to take part in union negotiations.
India-based Apollo delayed the union talks and insisted Cooper be excluded, a Cooper negotiator testified in a Delaware court.
The judge said he would try to rule on the main issue, whether Apollo must complete the buyout of Cooper, by Nov. 13, Bloomberg reported.
