WRAPUP 5-US stocks mixed amid financing concerns, oil soars

(Reuters) - Shares of aircraft maker Boeing jumped to a record as the
stock led advances on the Dow Jones industrial average, while
Internet retailer Amazon.com shares soared more than 24 percent
to a 7-1/2-year high on Nasdaq.




U.S. stocks erased most of their early gains after news
that Chrysler had postponed a $12 billion auto loan deal.
Chrysler is raising cash to help fund a buyout by Cerberus
Capital Management. For details, see [ID:nN25373257]


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Bankruptcy Court approves Tower sale to Cerberus

(Reuters) - By David Bailey



CHICAGO, July 11 - The U.S. Bankruptcy Court on Wednesday approved Tower Automotive Inc.'s $1 billion sale to private equity firm Cerberus Capital Management [CBS.UL] and the auto parts maker's reorganization plan.


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Delphi ends Cerberus deal; sees new plan in July

(Reuters) - Delphi terminated the $3.4 billion equity investment plan on Saturday. Cerberus, which is buying Chrysler Group from DaimlerChrysler AG , was a co-lead investor in the plan with Appaloosa, Delphi's biggest shareholder.




The developments are not expected to prevent Delphi from exiting bankruptcy this year and Delphi's board is scheduled to meet July 16 to consider the matters, it said.


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UPDATE 1-EU approves Cerberus purchase of Chrysler

(Reuters) - BRUSSELS, July 3 - U.S. buyout firm Cerberus Capital Management [CBS.UL] won approval from the European Commission on Tuesday to buy U.S. carmaker Chrysler from DaimlerChrysler .



The deal was approved under a special simplified procedure because neither customers nor competitors had lodged any objections, the Commission said.


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Road show planned to raise funds in Chrysler deal: WSJ

(Reuters) - J.P. Morgan Chase & Co., Bear Stearns Cos. , Goldman Sachs Group Inc. , Citigroup Inc. and Morgan Stanley are helping Cerberus raise some $62 billion in debt for the deal, which includes Chrysler's finance arm, WSJ said.




On May 14, DaimlerChrysler AG announced that it was selling Chrysler to Cerberus in a $7.4 billion deal.


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UPDATE 1-Tower Automotive proceeding with sale to Cerberus

(Reuters) - Tower expects to seek approval of its reorganization plan
and the sale to Cerberus in a deal valued at about $1 billion
from the U.S. Bankruptcy Court for the Southern District of New
York on July 11.




The Novi, Michigan-based producer of automotive body
structures and assemblies filed for bankruptcy in February
2005. Management aims to complete the sale to Cerberus
affiliate TA Acquisition Co. LLC and exit bankruptcy by the end
of July.


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