RE: RE: Bidding process Brookfield has a clear reason why they decided not to enter the bidding process as it would have "hand cuffed" their decision to counter offer the highest bid, this allows them to sit on the sidelines and wait. This quote from the September 20th news release clearly states the highest bid will be presented to shareholders.
"The sales process is moving forward in a disciplined and successful manner. We are pleased with the progress being made by Rothchilds and PI Financial Corp. To be clear, the sale process is irreversible and this News Release is signed by all five (5) directors. The highest bid will not be denied and regardless of market conditions, the highest bid will be forwarded to the shareholders, for their approval."
I don't believe the companies in the bidding process can counter once the board reveals the highest bid. I have read the news releases many times and it seems to me that you have one attempt to formally provide your best offer. The way I see it, Brookfield as well as others who decided not to engage in the process may have the upper hand. GL.
Fastlane