October 17, 2013
Apollo countersues for respect and restitution
Apollo Tyres Ltd. did not take Cooper Tire & Rubber Co.'s lawsuit and allegations lightly. Cooper says Apollo is not meeting the terms of the merger agreement. Apollo claims it's Cooper that is in violation of the agreement.
As a result, Apollo has filed a countersuit against Cooper.
The parties will meet in court in November, when they try to convice a judge in the Court of Chancery of the State of Delaware who's right. Based on what the parties are claiming, the hearing will be anything but cordial.
In his latest blog, Modern Tire Dealer Editor Bob Ulrich touches on the issues and interesting facts that are contained in both suits. To read why Cooper and Apollo have yet to consummate their proposed partnership, check out "Return volley: Apollo files a countersuit against Cooper."
What do you think about what Cooper is saying about Apollo, and vice versa? Read the blog, then let us know what you think by leaving a comment.
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