Oct
10
Takata Slumps as Bankruptcy Said to Be Weighed With Law Firm
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Air-bag maker says ensuring stable supply its top priority
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Talks on various options are ongoing, Takata says in statement
Takata Corp. fell as much as 11 percent 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 6.9 percent to 349 yen as of 9:41 a.m., headed for its biggest drop in three weeks. 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…
Takata Slumps as Bankruptcy Said to Be Weighed With Law Firm
