Delphi Eyes Fresh Acquisitions

Delphi Automotive plc may decide to make further acquisitions and resume paying dividends this year, Bloomberg News reports.

CEO Rodney O'Neal tells the news service Delphi is considering how best to deploy its cash, which totaled $1.6 billion (€1.2 billion) in cash on Sept. 30.

O'Neal says the company isn't looking for "transformational" acquisitions that would take it into new businesses. He's interested in making more "bolt-on" acquisitions like the €765 million purchase of U.K.-based FCI Group's electronic connectors unit in October. In such deals, the new business fits into Delphi's existing operations and quickly generates savings from synergies.

The company is using some of its cash for a $750 million (€563 million) share buyback. Delphi also expects its healthy cash position to help the company regain an investment-grade credit rating by April.