Apollo Tyres gains 8 per cent on hopes of Cooper deal collapse

Tags: Companies
Apollo Tyres shares surge 7.9 percent as investors bet the company will drop its $2.5 billion deal to buy U.S.-based Cooper Tire & Rubber Co, traders say.

The merger agreement, signed in June, is valid up to December 31 after which Apollo can walk away from the deal.

"We believe that in the event of the Cooper Tire acquisition failing to materialise and no break-up fees is involved, this could be significantly positive for Apollo shareholders," Ambit Capital said in a research note.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • 49 per cent FDI in defence should pave the way for modernisation

    There is one industrial sector in India that has been kept out of the purview of the normal cycle of investment and production — defence.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Arun Nigavekar

Necessary yet inadequate boost to education

The finance minister, in the very first minutes of his ...

Zehra Naqvi

We must overcome the fear of death

It is the biggest irony that the only thing that’s ...

Dharmendra Khandal

Jawai leopards and locals can coexist peacefully

At first glance, the Jawai landscape seems like a large ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture