Delphi Corp. agrees to pay shareholders $348 million – up from a previous offer of $69 million – clearing the way for the supplier to emerge from bankruptcy protection in first-quarter 2008. The amount is still significantly less than the $470 million offered in Delphi’s original plan, announced in September. The supplier has revised its Chapter 11 reorganization plan several times due to changing market conditions. Magna International Inc. President Mark Hogan will leave the supplier ...
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