| TOKYO
Bidders for Japan’s Takata Corp (7312.T) are pushing for a court-mediated turnaround for the embattled air bag maker’s domestic business, a source said, a strategy the company opposes and news of which sent its shares tumbling 17 percent.
Takata is in the process of selecting a financial backer as it faces billions of dollars in costs to replace as many as around 100 million potentially defective air bag inflators that have been linked to at least 16 deaths globally.
Earlier in the day, the Nikkei newspaper reported that Swedish air bag maker Autoliv Inc (ALV.N), and a group led by U.S. auto parts supplier Key Safety Systems (KSS), the two preferred bidding groups for Takata, p…
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