RE:What If
The CXR news release only says they formed a committe ot review, not to review the Blackstone
bid.
Could it be possible that Blackstone never put in an offer?
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It's 100% possible - Actually, it's very likley they did not put in a bid.
Companies don't just put in a bid without doing detailed due dilligence (not reading analyst reports). If they are serious, they sign a confidentiality agreement and then look at the detailed records of the Company. Likely, the news got out somehow that they were considering / negotiating something so CXR put out a press release as they were required to due to the nature of the stock trading (stock spiking in a few minutes).
To quote your quote:
"Talks are at an early stage and a deal may not happen, they said. Other bidders may also be interested in acquiring Concordia, they said."
Early stage does not imply an offer has been made. Maybe they did put in an offer and CXR laughed at them and said let's sit down and talk for real.