Autoliv, Key Safety said to be leading in bids for airbag maker Takata

Southfield, Michigan

TAKATA Corp has honed in on bids from Autoliv Inc and Key Safety Systems Inc as the airbag maker behind the biggest car safety recall ever progresses towards a final round of negotiating a sale, said people familiar with the matter.

The two bidders gained an edge because both have technical expertise in airbag systems and safety equipment and because carmakers view them as able to lower costs and improve the quality of Takata parts, said two of the people, who all asked not to be identified discussing the negotiations. Takata is working to find a buyer and finalise its restructuring plan by year-end, the company said this month.