•  •  Dark Mode

Your Interests & Preferences

I am a...

law firm lawyer
in-house company lawyer
litigation lawyer
law student
aspiring student
other

Website Look & Feel

 •  •  Dark Mode
Blog Layout

Save preferences

Sullivan Cromwell

22 October 2013

The proposed takeover by Gurgaon-based Apollo Tyres of Ohio-based Cooper Tire & Rubber remained on tenterhooks, as the US company’s bid in a Delaware court to force the deal to close continued unresolved.

Amarchand Mangaldas Delhi and Sullivan Cromwell represented Apollo on the M&A deal, as reported by Legally India in June, with Jones Day having represented Cooper.

Cooper claimed that Apollo was trying to back out of the deal after union and industrial action in the US and China, reported Bloomberg, and that the Indian company agreed that it would use its reasonable best efforts to complete the deal or pay $112.5m in “reverse breakup fees”.

Apollo’s US lawyers wanted Cooper’s case to force a closing thrown out, and claimed in a letter to the court on October 18 that closing conditions to the deal had not been satisfied.

The deal, if completed, would be the largest takeover of an automobile-parts company since 2007.

13 June 2013

TyresAmarchand Delhi, Jones Day Cleveland and Sullivan Cromwell London acted on Gurgaon’s Apollo Tyres $2.5bn takeover of Ohio-based Cooper.

29 March 2011

AZB & Partners, J Sagar Associates (JSA) and Sullivan & Cromwell have advised on Goldman Sachs’s complete acquisition of Indian asset management company Benchmark Asset for a reported Rs 130 crore to expand its foothold in the six trillion rupee Indian fund management industry.

Latest comments