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Takata bidders, carmakers to meet this month, $3 billion bid on table: sources
October 11, 2016 / 1:07 PM / in a year

Takata bidders, carmakers to meet this month, $3 billion bid on table: sources

TOKYO (Reuters) - Bidders for Japan’s Takata Corp 7312.T will meet this month with the carmakers key to its survival to consider options, including a $3 billion bid, at a gathering that could determine the future of the air-bag maker, people familiar with the matter said.

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

The meetings of the five bidding groups and the carmakers, who are Takata creditors and customers, are to take place late this month in New York, four people involved or briefed on the matter told Reuters on Tuesday.

    The bid from Japanese inflator maker Daicel Corp (4202.T) and U.S. buyout firm Bain Capital, for more than 300 billion yen ($2.9 billion), is backed by Takata’s steering committee of Japan-based lawyers and consultants, said a person involved in the process and one who was briefed on the matter.

    That is the highest bid on the table for Takata, one source said.

    Takata, Daicel and Bain declined to comment.

    Writing by Naomi Tajitsu; Additional reporting by Junko Fujita; Editing by William Mallard and Louise Heavens

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