Benzinga's Weekend M&A Chatter

The following are the M&A deals, rumors and chatter circulating on Wall Street for Friday November 8, through Sunday November 10, 2013:

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Shares of Cooper Tire

sold off sharply late Friday, as the Delaware Court of Chancery rejected a claim by the company that Apollo Tyres breached the terms of an agreement to buy Cooper Tire. Cooper had claimed Apollo was delaying reaching an agreement with the union representing Cooper employees and had asked the court to require Apollo to close the $35.00 per share deal. In a press release Friday, Apollo stated: “We are pleased that the Delaware Court has found that Apollo is not in breach of its merger agreement with Cooper Tire". The release also stated that Apollo continues to believe in the merits of the combination and is committed to finding a sensible way forward.” Cooper Tire closed Friday at $23.82, a loss of 11.5%.

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Costa

announced Friday Essilor International will acquire all outstanding shares of the company for $21.50 per share. The deal is expected to close in early 2014. Costa closed Friday at $21.51, a gain of 7.5%.