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.
Modern Tire Dealer Editor Bob Ulrich touches on the issues 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."
Modern Tire Dealer is a sister publication of Heavy Duty Trucking.