US local time on December 30, 2013, the United States Cooper Tire & Rubber Company (Cooper Tire & Rubber Co), chairman, CEO and president Yan Wenshan (Roy Armes) said in a statement: "It is the business continue to promote Cooper's time. Although the strategic merger with Apollo has huge appeal, it is now very clear that the merger agreement signed by the two companies on June 12 of this year could not be completed by Apollo, and we learned that transaction financing has been terminated. For Cooper, the right choice is to continue to develop its own business."

Apollo plans to acquire the entire shareholding of Cooper Tire at a price of INR 145 billion (US$2.5 billion). On June 12th this year, the two sides signed a preliminary agreement, but Cooper's joint venture subsidiary, Cooper-Chengshan, was opposed to the transaction and even held a strike boycott. Afterwards, the deal suffered a series of setbacks, including US union opposition, price disagreements, and Cooper's belief that Apollo was trying to obtain favorable conditions through delaying tactics to cast a shadow over the deal.

In mid-November, Cooper filed an appeal against the procrastination of Apollo tyres to the Supreme Court of Delaware in the United States. The appeal was rejected on December 17, but after less than two weeks, Cooper announced the termination of the merger plan. Yan Wenshan stressed that the company believes that Apollo tires violated the previously signed merger agreement and will continue to seek legal measures to protect the interests of the company and its shareholders.

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