Resurgent US a region of vast potential – Onkar Kanwar
Shareholder response to Apollo Tyres’ acquisition of Cooper Tire & Rubber has been mixed and several institutional investors petitioned the tyre maker in July to reconsider its decision. Apollo’s share price currently hovers around Rs 61, about two thirds the going rate before the company announced the planned purchase. Against this backdrop, company chairman Onkar S Kanwar’s address to shareholders at the Apollo Tyres 2013 annual general meeting framed the US$2.5 billion transaction as a necessary response to changing market conditions.