Talks between struggling auto parts supplier Delphi Corp. and its unions that are key to a critically needed capital injection could go beyond a Jan. 31 deadline as long as progress is being made, a Delphi spokesman said Wednesday. Three private equity investors -- Appaloosa Management LP, Cerberus Capital Management LP and Harbinger Capital Partners Master Fund I -- along with Merrill Lynch & Co. and UBS Securities LLC have agreed to invest $1.4 billion to $3.4 billion in a restructured Delphi. But the deal is contingent upon Delphi reaching agreements on wages, benefits and other issues in the unions' contracts, something it has been unable to do after a year of talks.
See "Delphi-union talks may go beyond Jan. 31 deadline", Associated Press, Chicago Tribune, January 23, 2007