Apollo Tyres on Wednesday said US court has dismissed the case filed against it by Cooper Tire and Rubber on the issue related to merger of Cooper Tire with Apollo.
Cooper has also given up all its claims against Apollo."Pursuant to the ruling by Vice Chancellor Glasscock on October 31, 2014 that Apollo was not in breach of any of its obligations under the Merger Agreement, Apollo Tyres is pleased with last week's final dismissal of the Delaware litigation filed by Cooper Tire and Rubber against Apollo whereby Cooper has expressly given up all its claims against Apollo, thus vindicating Apollo's case," Apollo Tyres said in a statement.last month, Apollo had said that a ruling of a US court in its favour in the Cooper Tire deal had vindicated its stand that they made exhaustive efforts to complete the deal but US tire manufacturer failed to comply with its contractual obligations.