|Apollo says Cooper Tire's court move not needed||| Print ||
|Written by Associated Press|
|Sunday, 06 October 2013 07:59|
FINDLAY, Ohio (AP) â€” Apollo Tyres Ltd. says it's disappointed that Cooper Tire & Rubber Co. filed a complaint in court asking that Apollo be required to quickly close on their pending deal.
India-based Apollo Tyres announced in June it was buying Ohio-based Cooper for about $2.2 billion. The deal was approved by boards of both companies and later by Cooper shareholders.
But the deal has been delayed by union talks.
Cooper is asking a court in Delaware to compel Apollo to take actions so that the deal can close.
Apollo says the move isn't needed and that it has been working to assist Cooper in resolving its issues with the United Steelworkers.
It says it wants to close the deal as soon as possible when an agreement is reached with the union.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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