Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Ford Motor Company    F

Delayed Quote. Delayed  - 08/26 07:11:49 pm
12.43 USD   -0.32%
01:43p TAKATA SHORTLIS : sources
10:28a END THE STALEMA : You can now book-and pay for-parking with fordpass..
06:02a MASSIVE RANGE M : All-New Super Duty Brings Largest Fuel Tank in Seg..
News SummaryMost relevantAll newsSector news 
The feature you requested does not exist. However, we suggest the following feature:

Takata shortlists Daicel, KKR, Ningbo, others in rescue search: sources

share with twitter share with LinkedIn share with facebook
share via e-mail
08/26/2016 | 01:43pm CEST
A sign with the Takata logo is seen outside the Takata Corporation building in Auburn Hills, Michigan

Takata Corp (>> Takata Corporation) has shortlisted six or seven companies, including a competitor and private-equity funds, as potential financial investors to bail out the Japanese car-parts maker, people involved in the process said.

Takata Corp (>> Takata Corporation) has shortlisted six or seven companies, including a competitor and private-equity funds, as potential financial investors to bail out the Japanese car-parts maker, people involved in the process said.

Japanese chemical maker Daicel Corp (>> Daicel Corp), China's Ningbo Joyson Electronic Corp (>> Ningbo Joyson Electronic Corp) - the parent of Michigan-based air-bag maker Key Safety Systems - and global funds KKR & Co (>> KKR & Co. L.P.) and Bain Capital LP are among the groups presenting detailed turnaround plans to Takata, eight people familiar with the process, including two directly involved, told Reuters.

The shortlisting is a sign of progress in protracted efforts to restructure Takata, whose faulty air bags are linked to the deaths of at least 14 people and have sparked the biggest auto recalls ever. As many as 30 had showed initial interest as of June in rescuing the company.

Takata needs a financial backer to help overhaul its business and carry ballooning costs as its stock price has crumbled almost 90 percent since early 2014 and it faces potentially billions of dollars of liabilities over the sometimes deadly defects in its air-bag inflators.

Takata and its steering committee, advised by investment bank Lazard Ltd (>> Lazard Ltd), hope to narrow the list to about two final bidders by mid-September and choose a financial "sponsor" in October after consulting with Takata's car maker customers, several sources said.

Representatives of Takata's steering committee, Daicel, KKR and Bain Capital declined to comment on the search for a rescuer. Ningbo Joyson has had no direct contact with Takata, but there may be information exchanges going on through an intermediary, said spokesman Chen Yang.

It was not clear who the other potential bidders are, or what precise plans any of the suitors have for Takata's operations or assets.

The sources declined to be named because the process is private.

Takata has not faced a reckoning as its air-bag liabilities remain unresolved. And many Japanese car makers depend on the supplier, one of the three dominant global makers of safety air bags, to keep supplying the recalls and provide competition.

"Keeping Takata alive is important for automakers to maintain their bargaining power," said SBI Securities auto analyst Koji Endo, adding that some investors might find its non-inflator businesses attractive, given its depressed share price.


Recalls of Takata air bags began in 2008, when inflators in the bags began exploding with excessive force, spewing sometimes lethal shrapnel into passenger compartments.

More than 100 million vehicles worldwide have been slated for recall to replace Takata inflators, which in addition to the deaths, are linked to more than 150 injuries - mostly in the United States and involving Honda Motor Co (>> Honda Motor Co Ltd) vehicles.

Car makers have borne most of the recall costs so far, but if Takata were found to be solely responsible for the fault, it could face a bill of more than $10 billion, based on a rough calculation that each replacement kit costs around $100. It also faces U.S. lawsuits.

The October deadline for finding a backer was unrealistic due to uncertainties over its growing liabilities given expanding recalls and lawsuits, some of the sources said.

A big challenge in the Takata rescue will be reaching consensus among the supplier's more than 10 automaker customers over a restructuring plan, as they are likely to have different ideas of how important it is to keep Takata afloat, said SBI analyst Endo.

Some potential sponsors want Takata's automaker customers to forgive a hefty portion of the recall costs or take a stake in the company, several sources said.

And some would-be investors want to put Takata through bankruptcy to wipe out some of its liabilities, they said. Takata's banks, too, may face pressure to forgive debts, one source said.

(Reporting by Taro Fuse and Junko Fujita; Additional reporting by Emi Emoto, Naomi Tajitsu and Maki Shiraki in Tokyo and Jake Spring in Beijing; Editing by William Mallard and Muralikumar Anantharaman)

By Taro Fuse and Junko Fujita

share with twitter share with LinkedIn share with facebook
share via e-mail
10:28a END THE STALEMATE : You can now book-and pay for-parking with fordpass before so..
06:02a MASSIVE RANGE MEANS MORE TIME ON ROA : All-New Super Duty Brings Largest Fuel Ta..
08/25 FORD MOTOR : Virtual Reality Storytelling App Gives Consumers and Fans an Up-Clo..
08/25 FORD MOTOR : Performance to Extend Production of All-New GT Supercar an Addition..
08/25 FORD MOTOR : Consumers Can Test Drive All-New 2017 Ford Super Duty at Tour Stops..
08/25 END THE STALEMATE : You Can Now Book – and Pay for – Parking with Fo..
08/25 END THE STALEMATE : You Can Now Book -- and Pay for -- Parking with FordPass Bef..
08/25 FORD MOTOR : Details of ford motor company's august 2016 u.s. sales conference c..
08/25 MEDIA ADVISORY : Details of Ford Motor Company’s August 2016 U.S. Sales Co..
More news
Sector news : Auto & Truck Manufacturers - NEC
06:55pDJTesla Raises Price of Autopilot Option by $500
03:04p MAZDA MOTOR : recalling 190,000 CX-7 vehicles in U.S.
02:15pDJTATA MOTORS : Jaguar Land Rover Drags on Profit at Tata Motors
01:27pDJVOLKSWAGEN : Expects Swift Return to Full Production After Supplier Deal
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
10:18a General Motors Will Completely Transform Their Business Model
09:43a U.S. auto sales forecast to fall in August
05:45a Toyota Shows Tesla How To Run A Car Factory - In Texas!
08/25 AGILENT TECHNOLOGIES INC. : A Total Return Technology Company (Part 1 Single Let..
08/25 The Big 3 Automakers See Short Interest Rising Up To 23%
Financials ($)
Sales 2016 141 805 M
EBIT 2016 6 297 M
Net income 2016 7 549 M
Finance 2016 2 545 M
Yield 2016 6,70%
P/E ratio 2016 6,42
P/E ratio 2017 6,73
EV / Sales 2016 0,33x
EV / Sales 2017 0,32x
Capitalization 49 546 M
More Financials
Duration : Period :
Ford Motor Company Technical Analysis Chart | F | US3453708600 | 4-Traders
Full-screen chart
Technical analysis trends FORD MOTOR COMPANY
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 21
Average target price 13,6 $
Spread / Average Target 9,4%
Consensus details
EPS Revisions
More Estimates Revisions
Mark Fields President, Chief Executive Officer & Director
William Clay Ford Executive Chairman
Robert L. Shanks Chief Financial Officer & Executive Vice President
Raj Nair Chief Technical Officer
Marcy Klevorn Chief Information Officer & Vice President
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
TOYOTA MOTOR CORP-17.35%203 325
DAIMLER AG-21.15%74 926
VOLKSWAGEN AG-8.30%71 646
HONDA MOTOR CO LTD-19.10%55 692
More Results