Loading…
Saturday, December 20, 2014
Current Weather
Loading Current Weather....
Published: Tuesday, 6/25/2013 - Updated: 1 year ago

Cooper Tire investor sues to block takeover

BLADE STAFF
A Cooper Tire & Rubber Co. investor has sued to block the company’s $2.5 billion takeover by Apollo Tyres Ltd., saying the offer of $35 a share is too low. A Cooper Tire & Rubber Co. investor has sued to block the company’s $2.5 billion takeover by Apollo Tyres Ltd., saying the offer of $35 a share is too low.
ASSOCIATED PRESS Enlarge

A Cooper Tire & Rubber Co. investor has sued to block the company’s $2.5 billion takeover by Apollo Tyres Ltd., saying the offer of $35 a share is too low.

Company directors have an obligation to get the best possible price, the Booth Family Trust said in a filing in Delaware Chancery Court in Wilmington.

A spokesman for Findlay-based Cooper Tire said the company doesn’t comment on litigation.

The company said June 12 it would be bought by India-based Apollo.



Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories