Jun
19
Takata Declines by Daily Limit as It’s Said to Plan Bankruptcy
By-
Shares of the component maker have plunged 53% this year
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Company says awaiting external committee’s final proposal
Takata Corp. fell by its daily limit after the embattled airbag maker was said to be planning to file for bankruptcy, paving the way for a sale of the 84-year-old Japanese company behind the biggest safety recall in automotive history.
Shares of Takata declined 17 percent, the most since April 27, at the end of trading Monday in Tokyo after going untraded through the regular session as orders to sell outnumbered buyers. The stock has plunged 53 percent this year. The supplier is expected to seek protection in its home country first, with its U.S. subsidiary filing for Chapter 11 bankruptcy shortly thereafter, a person familiar with the matter said last week…
Takata Declines by Daily Limit as It’s Said to Plan Bankruptcy
