Deals
Takata Slumps as Bankruptcy Said to Be Weighed With Law Firm
- Air-bag maker says ensuring stable supply its top priority
- Talks on various options are ongoing, Takata says in statement
Takata Considers Options as Shares Slump
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Takata Corp. fell the most in three weeks in Tokyo trading after it was said to be considering bankruptcy protection in the U.S. The air-bag maker said no decision has been made.
Takata dropped 7.5 percent to 347 yen, while the benchmark Topix Index advanced 0.4 percent. The Tokyo-based company, whose defective air-bag inflators triggered the biggest recall in auto industry history, hired Weil Gotshal & Manges LLP to help weigh options that could include bankruptcy or a sale, according to people with knowledge of the matter.