Detroit â¢ Automotive parts and electronics maker Delphi Corp. plans to spin off its vehicle powertrain operations into a separate publicly traded company.
The British company with U.S. operations in suburban Detroit says Delphi shareholders will get stock in both companies in the tax-free deal.
Shares of the company surged more than 10 percent to $86.49 Wednesday.
Delphi, the former parts arm of General Motors, has been shedding conventional automotive businesses ever since it was spun off as a ...
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