Apollo Tyres shares slumped more than 15 percent on Thursday as its buy of US-based Cooper Tire ~~amp; Rubber Co (CTB.N) for about $2.5 billion is seen increasing the company's debt levels.
Apollo Tyres shares slumped more than 15 percent on Thursday as its buy of US-based Cooper Tire ~~amp; Rubber Co (CTB.N) for about $2.5 billion is seen increasing the company's debt levels.
The deal, which was announced late Wednesday, is at a premium of about 43 percent to Cooper's Tuesday close.
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