Labor & Economic News Blog
Tuesday, December 19, 2006
Investor offers $3.4 billion to Delphi...if it signs a contract with UAW
Investor offers $3.4 billion to Delphi...if it signs a contract with UAWSource: NY Times
The United Automobile Workers union faces a difficult choice: reach agreement on concessions with the Delphi Corporation or risk seeing Delphi lose out on a deal that would help it emerge from bankruptcy. A group of private equity firms led by Appaloosa Management and Cerberus Capital said on Monday that they were willing to invest at least $1.4 billion and up to $3.4 billion when Delphi emerges from Chapter 11.
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