Apollo Tires wants to lower the price of its $2.5B purchase of Cooper Tire & Rubber (CTB), due to "significant and unanticipated costs" that are "well beyond" those it thought it would have to pay. Apollo said yesterday that Cooper has agreed to a price cut, although the latter said it hasn't agreed to any such thing. The deal has been hit by labor issues in the U.S. and China.
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