If you look at the other recent acquisition by L3, you'll see that our deal (when you look at the metrics) was in line with what the other company got.
L3's bid was stated to be a "stalking horse" bid. By definition it's a low bid to encourage other bidders. If no one else comes forward L3 gets a really good deal and if someone else raises the bid L3 gets a cash cancellation fee. L3 wins either way. What I'd like to know is if the BK judge can cancel the bid as unreasonably low and insist on a more equitable price.
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