From FinancialWire

The Wall Street Journal reported that U.S. buyout firm Ripplewood Holdings LLC is preparing a likely $10 billion bid for bankrupt auto parts maker Delphi Corp.

Delphi, a former General Motors Corp. subsidiary, is talking with GM, creditors and others about the restructuring, which could include possible asset sales. The newspaper said that while Ripplewood is considering taking over all of Delphi, a bid for just part of the company is possible. Delphi filed the biggest bankruptcy in U.S. automotive history a year ago and said it hopes to emerge from bankruptcy by mid-2007.

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