Reuters reports

that Delphi is expected to file for bankruptcy Saturday. The company's board is scheduled to meet Saturday morning to make the final decision.

Delphi's stock price fell 49 percent Friday, amid investor concerns that the company may be unable to cut a deal with GM and its unions to avert bankruptcy.

The company, although in trouble with high wage and benefit costs, is not short of cash. The bankruptcy filing is timed to take advantage of current lenient bankruptcy rules, which will change October 17.

The Delphi bankruptcy would be among the 15 largest since 1980.

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