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GM Seeks Options For Delphi Exit Financing

Law360 (February 12, 2008, 12:00 AM EST) -- Difficult market conditions have forced General Motors Corp. to explore alternatives in helping key auto part manufacturer Delphi Corp. obtain financing to exit bankruptcy, the automaker said on Tuesday.

A tight credit market is to blame for difficulties in closing Delphi's financing deal, GM Chief Financial Officer Fritz Henderson said during a conference call to announce GM's preliminary 2007 results.

Henderson would not elaborate on what alternatives were being considered, though analysts have said that GM may have to provide financing itself.

A Delphi spokesman did...
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