India's Apollo Tyres to buy Cooper Tire for $2.5 bln

June 12 Wed Jun 12, 2013 8:02am EDT

June 12 (Reuters) - Indian tire manufacturer Apollo Tyres Ltd said it would buy Cooper Tire & Rubber Co for about $2.5 billion.

Apollo's cash offer of $35 per share represents a premium of about 43 percent to Cooper's closing price on Tuesday on the New York Stock Exchange. (Reporting by Bijoy Koyitty in Bangalore; Editing by Saumyadeb Chakrabarty)

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