Takata shares tank after report some bidders considering bankruptcy proceedings
- Wall Street climbs in wake of first presidential face-off
- Nike (NKE) Tops Q1 EPS by 17c; Futures Orders Miss Views
- Tempur Sealy (TPX) Updates on Outlook; Sees Q3 Sales Below Prior Expectations
- Galectin (GALT) Reports Exploratory Phase 2a Pilot Trial of GR-MD-02 in Nash Misses Primary Biomarker Endpoint; Announces $1.5M Private Placement
- After-Hours Stock Movers 09/27: (SEED) (GALE) (CTAS) Higher; (GALT) (TPX) (NKE) Lower (more...)
A sign with the TAKATA logo is seen outside the Takata Corporation building in Auburn Hills, Michigan May 20, 2015. REUTERS/Rebecca Cook/File Photo
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
TOKYO (Reuters) - Shares in Takata Corp <7312.T> fell as much as 9 percent on Tuesday after a Bloomberg report that some of the company's bidders are considering the possibility of some form of bankruptcy proceedings for the troubled Japanese air bag maker.
Citing people familiar with the bidding process, Bloomberg reported on Monday that a bankruptcy option was being considered to rein in liabilities.
Tokyo markets were closed on Monday for a national holiday.
On Tuesday when markets re-opened, Takata shares were down 7.8 percent at 390 at 0123 GMT.
People with direct knowledge of the bidding process told Reuters earlier that Takata would take initial bids from potential rescuers, including Japanese chemical maker Daicel Corp <4202.T>, China's Ningbo Joyson Electronic <600699.SS> and global funds KKR & Co (NYSE: KKR) and Bain Capital LP, on Sept. 19.
(Reporting by Chang-Ran Kim; Editing by Michael Perry)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Aetna to offer Apple Watch at a discount to certain customers
- Ex-AIG chief Hank Greenberg, 91, testifies in fraud case
- More attacks foiled on French Riviera since Nice carnage: prosecutor
Create E-mail Alert Related CategoriesReuters
Related EntitiesBain Capital, Bankruptcy
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!