Replies to post #41956 on BioAmber Inc fka BIOAQ

[1manband]

One more time.....The MAXIMUM bid is $12 million net. Most likely the actual bid is much less than that.

Therefore, they don't want to disclose the actual number. If this deal were to fall through, they don't want any new bidders knowing what the old price was and lowballing them on the second bid and forcing PwC to accept it out of desperation. PwC is legally bound to maximize the return for creditors, and keeping the final bid secret until it has closed is part of their mandate.