Reuters: Appaloosa backs out of Delphi deal in blow to GM

[chris]

Appaloosa backs out of Delphi deal in blow to GM
      

DETROIT (Reuters) - Investors led by Appaloosa Management backed out of a $2.55 billion equity deal to support Delphi Corp's  emergence from bankruptcy on Friday, dealing a blow to General Motors Corp  and its goal of putting the problems of its former parts subsidiary behind it.
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