Takata Takeover Bid Unlikely Before February

Takata Corp. no longer expects to choose a favored bidder this year as it struggles with the impact of massive recalls involving its potentially lethal airbag inflators.

Takata reportedly favors bids from two current airbag producers, Autoliv Inc. and Key Safety Systems Inc. But sources tell Bloomberg News the suitors have launched a deeper round of due diligence that isn’t likely to be completed until February or later.

The new financial examination will give the bidders access to detailed business data and product plans so they can refine their offers, the sources say.

The winner will take charge of a company behind the auto industry’s largest recall ever. More than a dozen carmakers, who began recalling flawed Takata airbag inflators 15 years ago, are expected to replace more than 100 million of the devices worldwide by the end of the decade. Takata’s financial exposure has not been determined.