A second bidder has emerged for Delphi’s wheel bearings business, a US paper reported.
Go deeper with GlobalData
A group of investors – including executives at Troy-based Tag Holdings and Illinois-based investment and consulting firm Baytree Investors – has bid on the business, composed mainly of a plant in Sandusky that employs 1,000 people, the Detroit Free Press (DFP) said.
The new bidder reportedly is offering as much as $75m for the business, and competes with an offer from private equity firm Resilience Capital Partners which offered to pay as much as $44.2m in a bid that Delphi supports.
The DFP said the new bidder is also offering employees a 20% ownership interest in the business ahead of an auction scheduled for 21 February 21 in Judge Robert Drain’s US Bankruptcy Court in New York.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
