Four contenders might take a final shot at winning Delphi
| July 9th, 2009 | ||
| Tomorrow is the deadline for bids for the bankrupt auto-parts maker Delphi Corp. On June 17, United States Bankruptcy Court Judge Robert Drain re-opened the auction for Delphi to make sure that Platinum Equity Partners’ deal was the best one available. This deal has been criticized because Platinum is committing only $500 million to the $3.6 billion transaction. According to the New York Post, Carl Icahn’s Federal-Mogul and private-equity firm Appaloosa Management are two of the potential bidders. Along with Icahn and Appaloosa, two car-parts makers are expected to be considering bids. These four contenders’ offers must beat that of Platinum Equity, which won the earlier auction. | ||
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For Detailed Investor Profiles on these Investors, click below: |
Icahn Associates (Carl Icahn) |
Related People: Alexander J. Denner;
Related Entities: High River Limited Partnership;
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles
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