Six suitors, including TRW, eyed Delphi: sources

By Soyoung Kim and Megan Davies

DETROIT/NEW YORK (Reuters) - At least six potential suitors including TRW Automotive Holdings (TRW.N) have considered bidding for Delphi Corp (DPHIQ.PK), as the deadline for offers on the assets of the bankrupt auto parts maker approached, sources briefed on the matter said on Thursday.

Auto parts maker Federal-Mogul Corp (FDML.O), billionaire investor Wilbur Ross, and Delphi's bankruptcy lenders including hedge fund Elliott Management are considering bids that could compete with private equity firm Platinum Equity, the people said.

Livonia, Michigan-based parts supplier TRW has looked at Delphi's books but is unlikely to submit a bid on Friday, one source said.

Appaloosa Management, which backed out of a plan to support Delphi's emergence last year, had also considered a new bid, according to two sources, but was not expected to submit an offer, a third source said.

The people close to the Delphi sale process asked not to be identified because decisions on bids have not been finalized and the names of the potential bidders have not been released by Delphi or the U.S. Bankruptcy Court.

Representatives for Appaloosa could not be reached immediately for comment. Federal-Mogul, TRW Automotive, Elliott Management and Ross have declined to comment.

TRW is 45 percent owned by private equity firm Blackstone Group (BX.N). Blackstone has also been an advisor on Delphi's debtor-in-possession financing.

TRW bought a portion of Delphi's North American brake manufacturing business in late 2007 and has been seen as eager to broaden its automotive safety offerings.