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Economy and Business


Cooper Tire deal hits another snag
Shareholders approved a purchase of the Ohio firm by India's Apollo Tyre, but the deal has hit another legal snag
by WKSU's KABIR BHATIA


Reporter
Kabir Bhatia
 
In The Region:
Correction: Cooper Tire is based in Findlay. This story incorrectly said it was in Akron.

A $2.2 billion deal to create the world's seventh-largest tire maker has hit another legal snag.

Findlay-based Cooper Tire has been slated since June for a takeover by Apollo Tyre of India. The companies are supposed to enter a new agreement with employees who are part of the United Steelworkers. But Cooper says Apollo breached its contract by delaying an agreement with the union.

The Findlay company asked a judge to close the deal last month. But on Friday, a judge ruled that Apollo is not dragging its feet. The Indian company says it wants the purchase price reduced once it hammers out a deal.
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