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Morgan Stanley takes 0.5% share in Apollo

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News of Morgan Stanley Asia (Singapore) Pte’s investment in Apollo Tyres has prompted a slight rise in the Indian tyre maker’s share price. Morgan Stanley purchased 2.7 million Apollo shares – a 0.5 per cent stake in the company – for Rs 63.37 a share. After this news was released, shares rose briefly to Rs 64.80; still more than 31 per cent down on their trading price before Apollo announced it would acquire Cooper Tire & Rubber.

Related news:

Related news:

  1. Cooper shares up 40% following acquisition announcement
  2. Report: Investor sues Cooper over ‘too low’ Apollo bid
  3. Cooper Tire keeps ‘neutral’ rating
  4. Separate Cooper contracts required before Apollo deal proceeds
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