Cooper Tire’s Merger Appeal Denied
by Jamie Scrivener
A Delaware Supreme Court denied Cooper Tire & Rubber Co.’s appeal of a lower court’s ruling saying the company could not force a merger with Apollo Tyre. The Delaware Chancery Court ruled that Cooper did not follow all the terms and conditions stated in a June merger offer from Apollo Tyre.
The court stated that Cooper had not provided the essential information to Apollo that was needed to secure the $2.5 billion merger funds.