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Cooper Tire investor sues to block takeover

AP-EARNS-COOPER-6-25

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.

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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.

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