VENTURE CAPITAL POST

The Delaware Supreme Court on Monday dismissed Cooper Tire & Rubber Company's appeal against an earlier court ruling favoring Indian tire maker Apollo Tyres Ltd. The two companies went on trial in November over the stalled merger deal.

The following bids, mergers, acquisitions and disposals were reported on Monday including Forbes, Axel Springer, MidCap Financial LLC, Goldman Sachs and others.

American tire company Cooper Tires & Rubber Co. seeks to obtain a Supreme Court ruling forcing India's Apollo Tyres to complete the merger. The USD2.3 billion deal would make Apollo the seventh-biggest tire maker in the world.

Cooper had sought the jurisdiction of the Delaware Supreme Court to rule on the order by Delaware Chancery Court Judge Sam Glasscock III finding no fault on Apollo for the delayed merger.

The Delaware Chancery Court is the venue for the hearing between Cooper Tire and Rubber Co against Apollo Tyres Ltd.

Cooper Tire & Rubber and Apollo Tyres would be meeting in court today over its planned buyout deal.

In a letter to presiding judge Sam Glasscock III, Apollo Tyres lawyer sought the dismissal of the case filed against them by Cooper Tire & Rubber Co.

Apollo Tyres Ltd and Cooper Tire & Rubber Co could not seem to agree on the initial price of its buyout deal.

A Reuters report said that the USD2.5 billion takeover proposal of Cooper Tire and Rubber Co by Apollo Tyres Ltd would be awaiting shareholder approval.