Apollo investors advise against Cooper deal
ERJ staff report (LMH)
Mumbai – Concerned investors of Apollo Tyres are persuading the company to rethink the proposed acquisition of Cooper Tire announced in June, according to India’s Economic Times .
The news website reports that the investors think the company is "overpaying for synergies that will be difficult to achieve" and that destructive value of the deal is already being reflected in the decline of Apollo shares.
Apollo said on 12 June that it was to buy Cooper Tire for $2.5 billion in an all-cash deal (€1.9 billion).
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Article from Economic Times