Cooper Tire & Rubber and Apollo Tyres go to court

|About: Cooper Tire & Rubber Co. (CTB)|By:, SA News Editor

Cooper Tire & Rubber (CTB) goes to court today in Delaware in an attempt to force Apollo Tyres to complete its purchase of the company at the original terms despite ongoing labor issues.

The judge in the fast-tracked case will have to determine if a "material adverse effect" has cropped up which would allow a new acquisition price to be negotiated.

CTB -0.1% premarket to $25.61 vs. the original buyout offer of $35/share.