companies

Takata shares dive on bankruptcy buyout report

Tokyo-listed firm plunged nearly 15% after Bloomberg News said private equity firms and auto parts makers were preparing offers for the company

AFP
14:39 September 20, 2016

Tokyo: Takata shares nosedived on Tuesday after a report said that some potential buyers were considering bankruptcy proceedings for the embattled airbag supplier, which has been hit by the global auto industry’s biggest-ever safety recall. The Tokyo-listed firm plunged nearly 15 per cent after Bloomberg News said private equity firms and auto parts makers were preparing offers for the company, and some were considering the drastic bankruptcy action to mitigate the liabilities. It closed 11.58 per cent lower at 374 yen ($3.70).