The proposed $2.5 billion takeover deal between Copper Tire and Rubber Company (NYSE: CTB) and India’s Apollo Tyres is in trouble. The management from both companies got involved in some heated arguments over the price issue over the weekend. After the deal received an approval from Cooper’s shareholders few days ago, some labor related issues [...]
Shares of Cooper Tire & Rubber Company (NYSE: CTB) catapulted about 40% by afternoon trade after the Ohio based Company received a buyout bid of $2.5 billion from an Indian tire manufacturer Apollo Tiers. Apollo has agreed to pay $35 in cash, which implies 42.5% premium over the Tuesday’s closing stock price. [...]
Shares of Sprint Nextel Corporation (NYSE: S), the No. 3 U.S. wireless carrier, are seeing a huge rally in trading today. At last check, Sprint shares were trading 14.09% higher at $5.75 on above average volume of 92.14 million. The stock hit a 52-week high of $5.98 in trading today. [...] |
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