Highland Capital offers $4.7B Delphi plan

Dec 21, 2006 | 09:45 AM | Philip Burgert

Highland Capital Management LP, a Dallas-based hedge fund that owns 8.9 percent of bankrupt automotive supply giant Delphi Corp., said it had proposed an up to $4.7-billion refinancing plan that would compete with a private equity plan accepted by Delphi executives three days earlier.

Delphi, Troy, Mich., had said the agreed proposal led by Appaloosa Management LP and Cerberus Capital Management LP would invest up to $3.4 billion in Delphi's reorganization plan.....

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