Autoliv Claims Takata Is Hindering Its Bid

Swedish airbag maker Autoliv Inc. claims its attempt to bid for financial control of rival Takata Corp. is being stymied by the Japanese company’s CEO, The Wall Street Journal reports.

Autoliv lodged its complaint with a steering committee set up to handle Takata’s restructuring and find a financial savior for the company.

The company faces billions of dollars in liabilities linked to as many as 100 million of its explosion-prone airbag inflators. The devices have been linked to 17 deaths and nearly 200 injuries worldwide and triggered recalls by 19 vehicle manufacturers.

Autoliv says that Takata CEO Shigehisa Takada has threatened to fire employees who provide it with the financial data it seeks to structure a bid. Some of Takata’s carmaker customers, who favor a truly competitive auction, also have complained about Takata’s behavior, according to the Journal.

Autoliv and Michigan-based Key Safety Systems Inc. reportedly are the two finalists to participate in the long-delayed auction. Takata has expressed worries that an Autoliv bid could be challenged by regulators, because the Swedish company already controls roughly 40% of the world’s airbag market.