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Tuesday, Oct 22
Cooper-Apollo acquisition dispute to go trial
- A judge has rejected a request from Apollo Tyres to dismiss a lawsuit from Cooper Tire & Rubber that would force the Indian company to complete its $2.5B acquisition of Cooper.
- The decision opens the way for a trial in November.
- Apollo had argued that the American firm hadn't fulfilled its obligations and so shouldn't have to go through with the purchase. Cooper had sued to enforce the deal, which has been hit with union issues in China and the U.S., after Apollo had failed to complete the transaction by an October 4 deadline.