Cerberus may drop Delphi bid on UAW resistance-BBG


CHICAGO, Jan 26 (Reuters) - Cerberus Capital Management LP may back out of a $3.4 billion investment supporting Delphi Corp.'s emergence from bankruptcy due to union resistance to wage cuts, Bloomberg News reported on Friday. Cerberus, a leader of an investor group with Appaloosa Management LP that would take a controlling stake in Delphi, also disagrees with the United Auto Workers over the number of plants and jobs to retain and over severance pay, Bloomberg said, citing people familiar ...

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