US Antitrust Authorities Approve Delphi Sale To GM

Law360, New York (September 3, 2009, 3:52 PM EDT) -- U.S. antitrust authorities have signed off on a deal in which bankrupt auto parts maker Delphi Corp. would sell the bulk of its assets to General Motors Corp. and a consortium of lenders led by Elliott Management Corp. and Silver Point Capital LP.

The Federal Trade Commission issued a notice Wednesday showing that the Delphi deal was allowed to proceed and had been granted early termination of the merger waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.

Although the FTC maintains a list of...
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