GREY:NMKEF - Post by User
Comment by
Takeactionnowon Jul 10, 2020 10:01am
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Post# 31250815
RE:8th Monitors Report On PWC Website
RE:8th Monitors Report On PWC Website The beauty of this process is that it is not like a government contract bidding process, where ordinarily the lowest price conforming bid wins (i.e. price is the deciding factor). Here, two or more bids can be deemed equivalent taking into account differing factors such as inclusion of existing shareholders. Canadian courts have upheld this approach in the corporate arena, whereby directors can apply broader considerations than just the bottom line. Since there are eight bidders, an auction may just happen, which would generate an even better result. The bidders should be able to revise their terms to include elements viewed as valuable in the evaluation process (such as inclusion of existing shareholders).
phantom666 wrote: If 2 or more bids seem reasonable then an auction will be held on July 14th or at a later date agreed upon. Each bidder will know the others bid before the start of the auction and only up bids will be allowed.