EC Blesses GM's Delphi Acquisition

Law360, New York (October 2, 2009, 4:33 PM EDT) -- The European Commission has cleared the acquisition of a portion of bankrupt auto parts maker Delphi Corp. by General Motors Corp. and a consortium of lenders led by Elliott Management Corp. and Silver Point Capital LP.

The competition regulator said Friday that competitive pressure would continue to exist because there are numerous other suppliers in the auto market. Delphi's customers, the commission said, are important market players with substantial buying power.

GM's demand for car components in the European Economic Area is limited as well, the...
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