Cooper Tire in tentative deal with workers over merger
REUTERS - Cooper Tire & Rubber Co (CTB.N) said it reached a tentative agreement with workers represented by United Steelworkers union, regarding its planned $2.5 billion sale to India's Apollo Tyres Ltd (APLO.NS).
An arbitrator ruled in September that the sale could not close unless Apollo drew up a collective bargaining agreement with the union that represents workers at two Cooper plants.
The new labour deal agreed to on Wednesday is subject to review by Apollo, as well as ratification by the union's membership, Cooper said in a filing on Friday.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Maju Samuel)
- Tweet this
- Share this
- Digg this
- One dead, one wounded in shooting in Chicago financial district
- Israel, Palestinians locked in vicious circle of Gaza wars
- U.S. advises against non-essential travel to countries hit by Ebola
- Millions of jellyfish-like creatures wash up on western U.S. beaches
- UPDATE 3-Apache to quit gas projects in Australia and Canada
The United States said on Thursday it was hopeful that differences between India and much of the rest of the world over a major trade agreement could be resolved in time, with only hours remaining before the deal has to be signed. Full Article
ONGC, Oil India bid $1.5 bln for stake in Murphy Oil's Malaysia assets - sources Full Article