Market Overview

Apollo Says Has Been Working to Address Impediments to Cooper Tire Merger

Apollo Tyres Ltd (NSE: ApolloTYRE) today issued the following statement
in response to the complaint filed by Cooper Tire & Rubber Company
(NYSE: CTB) with the Delaware Court of Chancery:

“Apollo remains firmly of the belief that a merger with Cooper is
compelling from a strategic perspective. Contrary to Cooper's complaint,
we have been working diligently to address significant post-announcement
impediments.

“We continue to have committed financing from four major international
banks and are ready to launch our financing, subject to reaching
agreement with the USW, which is a requirement before Cooper can close
under the September 13 arbitration ruling. Apollo has indicated to the
USW in discussions

See full press release

Posted-In: News Contracts Asset Sales M&A Global

 

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