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Hearing set for Cooper-Apollo merger - KTBS.com - Shreveport, LA News, Weather and Sports

Hearing set for Cooper-Apollo merger

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Dover, Delaware -

Cooper Tire and Rubber Company faces more legal issues in its deal with Apollo Tyres.

Delaware's Supreme Court will hear on December 19th Cooper Tire's appeal of a lower court decision that found Apollo Tyre was not in breach of an agreement to buy the U.S. company for $2.3 billion.

Cooper is seeking a declaration that Apollo is in breach of the merger agreement.

Apollo has said it cannot close the deal because it has been unable to reach a labor deal with workers at Cooper plants in Findlay, Ohio and Texarkana, Arkansas.  

Statement from Copper Tire:

Cooper Tire & Rubber Company is pleased that the Delaware Supreme Court has granted our motion for an expedited hearing of our appeal of the partial ruling issued November 8/opinion letter issued November 9 by the Delaware Chancery Court. The hearing is set for December 19 in Dover, Delaware. Cooper continues to seek the expeditious closing of the merger with Apollo Tyres.

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