Delphi defends its proposed sale to Platinum equity
By WJ Hennigan Bankrupt auto parts maker Delphi Corp. defended its proposed sale to Beverly Hills-based private equity firm Platinum Equity on Thursday, saying claims that the transaction was a sweetheart deal were unfounded.
Tokio Marine said it will buy US insurer Delphi Financial Group DFG.N for $2.7 billion and is eyeing other acquisition targets, as Japan's No.2 property-casualty insurer looks to expand outside its mature home market and diversify geographic risks.