Apollo Tyres shares rise after Cooper deal collapse
Dec 31 2013 , Mumbai
Cooper Tire said on Monday it was walking out of the deal after being informed by the Indian tyre maker that financing was no longer available for a takeover. Both companies have threatened legal action against each other.
Apollo shares hit a record high of 111.45 rupees in pre-market trade. On Monday, Cooper shares had also risen 5.4 percent after the announcement, closing at $24.2 on the New York Stock Exchange.