One and the only answer....
Wanxiang is a qualified bidder and allow to bid.
I understand your concern. In order to bid, you only need to be a qualified bidder , whether you are Russian , Chinese , Indian .... As long as you are qualified , YOU CAN BID.
I guess you also make a little good point why the big guy is not moving . They expect Wanxiang will win the bet and if it got kicked out by CFIUS after bidding, the big guy will step in and with the known bid price that Wanxiang bided.
Could be the case.....