UPDATE 3-Cooper Tire may sell auto parts business

Newswire

(Recasts, adds details) By Karen Padley CHICAGO, March 24 (Reuters) - Cooper Tire & Rubber Co. on Wednesday said it may sell its auto parts business to concentrate on tire manufacturing, which sent its shares 6.6 percent higher on the New York Stock Exchange. The move comes on the heels of rival Dana Corp.'s decision in December to sell its similarly sized automotive after-market parts unit after fending off a $2.7 billion bid for the company from rival ArvinMeritor Inc. . ...

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