part of its business.
As part of the protest, the workers have locked their U.S. managers out of the factory and have refused to provide any details about its finances or operations.
Separately, a U.S. arbitrator has ruled that Ohio-based Cooper cannot sell two of its U.S. factories until a new collective bargaining agreement is reached between Apollo and members of the plants' union, the United Steelworkers (USW).
A renegotiation with the USW could add costs for Apollo.
"The issue is if Apollo has to take additional financial burden as a result of the U.S. labour settlement or possibly the China JV issue resolution, they must be compensated for that," said another source involved in the deal.
"No one, including probably Cooper, had expected the China JV partner to react the way they have," he said. "They were supposed to deliver Cooper as it was on the day they signed the agreement."
Cooper has said the obstacles are a result of the deal.
The June deal announcement sent Apollo shares plunging by a quarter the next day and triggered stock downgrades. Cooper shareholders cheered the 40 percent premium and approved the deal last week.
If the deal collapses, Apollo, founded more than four decades ago to sell bicycle steel tubes, may have to a pay $112.50 million break-up fee. Cooper's termination penalty is $50 million under certain conditions.