Court rules against Cooper’s Apollo deal breakup fee

3rd November 2014 | 0 Comments

Apollo Tyres has responded positively to a court decision against Cooper Tire & Rubber’s bid for compensation following the breakup of the Apollo/Cooper acquisition late last year. Cooper sought a US$112 million breakup fee as it viewed Apollo as having breached the merger agreement, however Delaware Chancery Court Judge Sam Glasscock III ruled on 31 October that Cooper itself hadn’t done all it could to satisfy the deal’s closing conditions.

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