Deals
Takata Shares Fall; Bidders Said to Mull Bankruptcy Option
- Bankruptcy may result in low repayment to bondholders: analyst
- Suitors for air-bag maker said to include Carlyle, KKR
Takata Bidders Said to Mull Bankruptcy Possibility
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Takata Corp. shares fell 12 percent in Tokyo trading as bidders for the air-bag maker were said to consider the possibility of some form of bankruptcy proceedings for the Japanese company behind the auto industry’s biggest ever safety recall.
The shares posted their biggest decline since March 30 to 374 yen on Tuesday. The drop was the biggest on the benchmark Topix index and reduced the company’s market value to 31.1 billion yen ($305 million).