Metaldyne Wins Switch Of Stalking Horse Bidder

Law360, New York (July 28, 2009, 5:49 PM EDT) -- A federal bankruptcy court has approved Metaldyne Corp.'s bid to substitute fellow auto parts maker HHI Holdings Inc. as the stalking horse bidder for its power train assets, replacing private equity firm RHJ International SA.

In a memorandum order filed Tuesday, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York approved the switch, and rejected RHJI's argument that it was entitled to a breakup fee.

HHI, a portfolio company of KPS Capital Partners LP, is a manufacturer of forged parts...
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