Cooper Tire & Rubber Co. is facing a lawsuit from the United Steelworkers union over its buyout of India-based Apollo Tyres Ltd, but reports say the dispute could be close to a resolution.
Apollo slammed the tentative agreement as a “last-minute stunt” for Cooper to gain the upper hand in court as the two tire companies head to trial this week. Cooper sued the India-based firm last month in an effort to force a closure to the merger deal, claiming Apollo deliberately delayed the deal’s finalization to have the option of potentially backing-out last minute.
An arbitrator ruled that Apollo would have to decide on a collective bargaining agreement with the union before the acquisition’s closure. The agreement Cooper reached with the union remains subject to review by Apollo as well as ratification by the union itself, according to Cooper.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Google and South Carolina Clash Over State Records Demand
May 8, 2024 by
CPI
Telefonica Germany Teams Up with Amazon Web Services to Migrate 5G Customers
May 8, 2024 by
CPI
Federal Judge Grants $7.4 Million Settlement in Pork Price-Fixing Case
May 8, 2024 by
CPI
Wilson Sonsini Bolsters Antitrust and Competition Practice with Key Partner Returns
May 8, 2024 by
CPI
EU to Scrutinize Telecom Italia’s Network Sale to KKR
May 8, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI