Takata Said to Avoid Bankruptcy in Seeking Funds From Buyer

  • Adviser Lazard said to meet manufacturers, financial firms
  • Takata said to be open to group of investors boosting funds

Takata Corp. has ruled out using bankruptcy as a way of mitigating liabilities from its record air-bag recalls and is instead seeking buyers that could take a controlling stake and carry the company through its crisis, according to a person with knowledge of the restructuring process.

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