Takata's selection of a bidder is reportedly running behind schedule as prospective buyers embark on further due diligence work to review the crisis-hit airbag maker.
Bloomberg reports that the successful bidder may only be named in the January-to-March quarter, citing anonymous people familiar with the matter.
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Takata and its financial adviser Lazard Ltd. have asked bidders to complete the due diligence in February, two of the people said.
Takata said last month it was working to find a buyer and finalise its restructuring plan by year-end.
Bloomberg notes that shares of Takata have gained 49% in the past month on speculation the company may secure a buyer by the end of the year.
Takata is said to be leaning toward bids from Autoliv and Key Safety Systems, the Bloomberg report added. The two companies are said to be favoured because of their expertise in safety systems.
In the final round of due diligence, the shortlisted companies will have access to Takata's detailed business data and technology plans, allowing them to refine their bids, one of the people said.
