MSN MoneyCentral -Shares in Delphi have surged in recent days amid signs of an emerging bid and possibly a takeover battle for control of North America’s biggest automotive parts maker.
At least four private equity and hedge funds are reportedly circling the Michigan-based company, which is in the throes of a court-supervised restructuring.
Appaloosa Management, a New Jersey-based hedge fund, has played an active role in the restructuring since acquiring a 9 per cent equity stake shortly after Delphi filed for Chapter 11 protection last October.
Another fund, Harbinger Capital Partners, has disclosed an equity stake of close to 5 per cent.
