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No break-up fee for Cooper Tire over failed merger attempt

Cooper Tire's Chinese subsidiary opposing the Apollo – Cooper merger deal has come to haunt the US supplier one more time, with the court ruling against it, in the matter of the US$112m break-up fee.

When the much disputed merger agreement between Indian tyre manufacturer Apollo Tyres and US-based Cooper Tire & Rubber was finally called off in December 2013, the decision spawned more disputes and the two have been mired in legal battles since talks concerning a potential merger broke down.

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