Highland Capital offers $4.7B plan to Delphi

Dec 21, 2006 | 10:11 AM | Philip Burgert

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

Troy, Mich.,-based Delphi had said that the earlier proposal led by Appaloosa Management LP and Cerberus Capital Management LP would invest up to $3.4 billion in Delphi's reorganization plan. A bankruptcy court hearing on that proposal, which is contingent on additional agreements with labor unions, is scheduled for Jan. 5.....





Latest Pricing Trends

Poll

Is severe weather affecting your business?

Yes
No


View previous results

AMM Events