MUMBAI (Reuters) - Shares in Apollo Tyres Ltd rose as much as 8.2 percent Tuesday after Cooper Tire & Rubber Co lost its U.S. court bid on Monday to force the Indian tyremaker to complete their proposed $2.3 billion merger.
Under the terms of the merger, Apollo can walk away from the deal on December 31. Investors have worried a takeover of Cooper would lead to a strong increase in debt levels at Apollo.
(Reporting by Abhishek Vishnoi; Editing by Prateek Chatterjee)
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