Market Overview

Cooper Tire Terminates Merger Agreement with Apollo Tyres

Cooper Tire & Rubber Company (NYSE: CTB) today announced it has
terminated the merger agreement with Apollo Tyres (NSE:ApolloTYRE).

“It is time to move our business forward,” said Cooper Chairman, Chief
Executive Officer and President Roy Armes. “While the strategic
rationale for a business combination with Apollo is compelling, it is
clear that the merger agreement both companies signed on June 12 will
not be consummated by Apollo and we have been notified that financing
for the transaction is no longer available. The right thing for Cooper
now is to focus on continuing to build our business.”

“Our business model is strong, and despite the challenges this year, we
are coming off record operating

See full press release

Posted-In: News Guidance Financing Offerings Contracts Management M&A Global

 

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