Shares of Exide Technologies (XIDE -43%) collapse to a nine year low on a report that it's hired...

|About: Exide Technologies (XIDEQ)|By:, SA News Editor

Shares of Exide Technologies (XIDE -43%) collapse to a nine year low on a report that it's hired Lazard and Akin Gump Strauss Hauer & Feld to advise on a restructuring, including a possible Chapter 11 filing. The company had initially engaged Deutsche Bank last year to lead a global refinancing, but the effort failed, and management is now pursuing more aggressive restructuring alternatives amid a looming September maturity on its convertible notes.