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Report: Takata Will Take Bids from Rescuers Next Week
Takata Corp. excepts to review initial bids on Sept. 19 from as many as seven financial investors, sources tell Reuters.
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Takata Corp. excepts to review initial bids on Sept. 19 from as many as seven financial investors, sources tell Reuters.
The struggling Japanese supplier hired Lazard Freres & Co. LLC in May to help it find rescuers as it faces fallout from customer recalls of roughly 100 million airbag inflators that could explode. The company could face huge costs depending upon its liability for the flawed devices.
Previously mentioned likely bidders include Bain Capital, Daicel, KKR and Ningbo Joyson Electronic. Reuters says a committee that has been overseeing Takata’s restructuring hopes to choose two finalists in early October and finalize a bailout strategy for the company by year-end.
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