TROY, Mich. -- General Motors' (GM) plan to purchase certain assets related to Delphi's global steering business has been approved by U.S. antitrust officials. Delphi, which is in the process of preparing to emerge from bankruptcy, spun-off from GM in 1999.
The purchase, which includes the steering business and four plants in New York and Indiana, was first announced in March.
According to a report from Reuters, GM will assume more than $1 billion in Delphi obligations and will waive $2 billion in claims, as part of the deal.
