Dana Woos Appaloosa With Info, Exit Plan

Law360, New York (July 24, 2007, 12:00 AM EDT) -- Bankrupt auto parts maker Dana Corp. has agreed to give Appaloosa Management LP confidential information about its company, a move that should help the hedge fund put together a proposal to fund Dana's plan.

In a Monday filing with the U.S. Securities and Exchange Commission, Dana included a letter it sent to the president of Appaloosa, David Tepper, on July 21 to negotiate terms so that Appaloosa can consider the information when its weighing “a possible investment in Dana as an alternative to the investment by...
To view the full article, register now.