Wires

UPDATE 1-India's Apollo Tyres to take control of Cooper Tire-report

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* Deal could be for $600 mln-$800 mln - India's EconomicTimes

* Cooper Tire shares jump as much as 11 pct(Adds details)

Oct 11 (Reuters) - Indian tire manufacturer Apollo Tyres

is in the process of buying a controlling stake inCooper Tire & Rubber Co , India's Economic Timesreported.

The value of the deal could be in the range of $600 millionto $800 million, the newspaper said, citing sources. ()

Shares of Cooper Tire, which had a market value of about$1.2 billion as of Wednesday's close, jumped as much as 11percent on the New York Stock Exchange on Thursday, bringing thegain so far this year to about 45 percent.

Apollo Tyres' shares closed 2 percent higher on India'sNational Stock Exchange.

The acquisition of the world's 9th biggest tire maker bysales would give Apollo Tyres access to the market forreplacement tires for cars and light and medium trucks, theEconomic Times said.

Apollo Tyres could be raising close to $600 million of debtto fund the transaction, the business newspaper said. StandardChartered Bank is advising Apollo Tyres, it said.

A spokesman for Apollo Tyres declined to comment, whileofficials at Cooper Tire could not be immediately reached.

(Reporting by Sagarika Jaisinghani in Bangalore; Editing byRodney Joyce and Ted Kerr)

((sagarika.jaisinghani@thomsonreuters.com)(within U.S. +1 646223 8780, outside U.S. +91 80 4135 5800)(Reuters Messaging:sagarika.jaisinghani.reuters.com@reuters.net))

Keywords: COOPERTIRE OFFER/