in less than three weeks in an $8.2 billion deal involving Vivendi and Activision Blizzard Inc.
The Cooper Tire and Apollo Tyres trial centered around problems in reaching a new labour contract at two Cooper plants, and on Cooper's renegade joint venture partner in China that has locked out managers from the U.S. company.
Hanging in the balance is a deal that would transform Apollo Tyres from a company focused on its domestic market into the seventh-biggest tire maker in the world. Cooper shareholders stand to lose a 40 percent premium for their stock if the deal collapses.
Apollo Tyres has said it wants a lower price that reflects the increased cost of a new labour deal and the unanticipated risks associated with the Chinese lockout.
The case is Cooper Tire & Rubber Co v. Apollo Tyres (Mauritius) Holdings Pvt. Ltd, Delaware Court of Chancery, No. 8980.