Federal-Mogul considering Delphi bid-sources

DETROIT/NEW YORK July 7 | Tue Jul 7, 2009 6:50pm EDT

DETROIT/NEW YORK July 7 (Reuters) - Federal-Mogul Corp (FDML.O) is readying a renewed bid for the assets of Delphi Corp DPHIQ.PK after breaking off talks with the bankrupt auto parts maker in late May, three people with knowledge of the situation said on Tuesday.

Federal-Mogul, controlled by billionaire investor Carl Icahn, had discussions about buying all or part of Delphi before the supplier agreed to sell most of its global operations to private equity firm Platinum Equity, the sources said.

But Federal-Mogul is considering a second run at Delphi after U.S. Bankruptcy Judge Robert Drain ordered Delphi to allow other bids that could compete with Platinum's offer, the sources said.

The sources asked not to be identified because information about potential Delphi bidders has not been released by the Troy, Michigan-based company or the New York bankruptcy court. (Reporting by Soyoung Kim)

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