PARIS -- Valeo SA would not comment on reports that it is thinking of buying its larger U.S. rival Visteon Corp.
The Financial Times, citing people it said were familiar with the situation, reported that the French supplier is among the bidders for Visteon. Valeo could sell some Visteon assets later, the newspaper reported.
Valeo CEO Thierry Morin said last month that he had as much as $2.6 billion for acquisitions. Visteon is valued at about $1.2 billion. Visteon ranks No. 8 and Valeo No. 12 on the Automotive News list of the top 100 global suppliers, based on 2005 original-equipment parts sales.