It is in a stragetic buyer's favor (which is what the SISP sought to produce), to acquire a target company in a "liquidation sale process" scenario. This provides certain benefits, e.g. certain tax and confidentiality benefits to name the obvious ones, that would not otherwise be present if acquiring a target company under a SISP.
It's about value creation.
While it is tempting to think about this entire process with BioAmber in the fashion of a barnyard auction -- because after all, thinking of BioAmber's restructuring in such a manner requires the least amount of brainpower -- there are far too many complicated aspects involved to treat of this situation with a mere cursory glance.
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