Hedge fund Appaloosa Management LP said in a U.S. regulatory filing on Tuesday that its offer for bankrupt auto parts supplier Dana Corp could be conditioned on there not being a strike at any of the major U.S. automakers.
According to filings with the U.S. Securities and Exchange Commission, the offer letter was delivered to Dana on Friday. On Monday, the United Auto Workers union struck all U.S. plants of General Motors Corp.
Appaloosa proposes to include an additional closing condition to the effect that there shall not have occurred any material strike or labor stoppage or slowdown at the company, General Motors, Chrysler, Ford Motor Co or any of their respective subsidiaries, the hedge fund said in the SEC filing.
The UAW is also currently in contract talks with Ford and Chrysler LLC.
Officials at Dana and Appaloosa were not immediately available to comment.