Appaloosa Looks To Beef Up Delphi, Dana Holdings

Law360, New York (June 7, 2006, 12:00 AM EDT) -- Looking to fortify an already strong position in bankrupt auto parts makers Delphi Corp. and Dana Corp., hedge fund Appaloosa Management is looking to raise up to $1.8 billion in additional investments from current and new investors.

The drive to raise funds, announced recently in a letter to investors, has come as a surprise to many, since Appaloosa has earned a reputation as one of the most elite hedge funds in the country.

In the letter, Appaloosa founder David Tepper wrote that the fund was seeking...
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