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This Just In.(Financier Wilbur Ross changes plans to purchase Collins & Aikman Corp.)(Strategic Bank of Michigan expects federal and state approval within 30 to 60 days.)(William Kohler has joined Detroit-based Butzel Long P.C. )
Crain's Detroit Business, August, 2006
Ross losing interest in Collins & Aikman Financier Wilbur Ross, who is bidding to purchase Collins & Aikman Corp., now says the troubled company no longer is the linchpin of his plan to create a North American megasupplier. Another bidder, New York mutual fund Third Avenue Management L.L.C., is vying to buy Collins & Aikman.
Ross said he's now looking at Lear Corp.'s unprofitable interior-trim business. In an interview last week with Automotive News, Ross said he also is considering bids to purchase "half a dozen companies in Chapter 11 bankruptcy, a couple of other suppliers and a couple of healthy Asian companies.'' - Crain News Service New bank prepares to open The Strategic Bank of Michigan, whose board of directors is to include Detroit...
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