Apollo Tyres buys US-based Cooper Tire for Rs 14,500 cr

New Delhi, June 12: Apollo Tyres on Wednesday said it has acquired US-based Cooper Tire & Rubber Company, in an all cash transaction of Rs 14,500 crore.The deal has been unanimously approved by the boards
apollo tyres buys us based cooper tire for rs 14...
India TV Business Desk June 12, 2013 18:15 IST
New Delhi, June 12: Apollo Tyres on Wednesday said it has acquired US-based Cooper Tire & Rubber Company, in an all cash transaction of Rs 14,500 crore.



The deal has been unanimously approved by the boards of directors of both companies in which Cooper stockholders will receive $35 per share in cash. The transaction represents a 40 per cent premium to Cooper's 30-day volume-weighted average price, Apollo Tyres said in a statement.
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