Entries tagged "Appaloosa Management"
Bankrupt auto parts maker Delphi moves closer to ending its nearly four year stay in Chapter 11 as Friday marks the deadline to outbid Platinum Equity.
The hedge funds that pulled out of providing Delphi Corp. with $2.55 billion in financing to emerge from Chapter 11 now want the auto parts maker to ante up an $82 million fee plus their expenses, according to a report in The Wall Street Journal. ...
How much does buyer's remorse cost? Possibly millions, possibly billions, depending on where Delphi Corp. goes from here. As we reported Thursday morning, Delphi is forming a special litigation committee and an independent legal counsel that will pursue some type of legal action against Appaloosa Management LP and the rest of the group that pulled the rug out from under the auto parts maker on April 4. ...
In The Daily Deal Gary Silberg, a partner at KMPG LLP's Chicago office analyzes private equity deals trends within the automotive industry. The U.S. automotive industry is suffering from a long list of well documented issues that include high labor and post-retirement costs, shrinking market share, overcapacity and regulatory challenges. Yet, the industry has become a popular destination for private equity investors, a trend that is likely to continue....
