Cooper Tire Investor Sues to Block Apollo Takeover

A Cooper Tire & Rubber Co. investor has sued the company in Wilmington, Delaware, to bar its planned $2.5 billion sale to India's Apollo Tyres Ltd.

The plaintiff, the Booth Family Trust, contends that the price of $35 per share is too low. Apollo agreed to pay a 43% premium to Cooper Tire's closing share price on the day before the deal was announced.

The lawsuit, which seeks class-action status, alleges that officials of the Findlay, Ohio-based company acted in bad faith.