Plastech Engineered Products made a $1 billion bid to buy the much bigger, and bankrupt, Collins & Aikman. [Collins & Aikman decided to sell the assets of its automotive fabrics business in April after it was unable to find a buyer, but its debt has continued to drop. The company's 10 3/4% '11 bonds are trading at 11 and its term loan "B" is trading in the low 60s. See related story, page 5.]
One Year Ago In The Credit Markets
