Stalking horse bid is part of the process. A company can volunteer to serve as an initial bid. If there are no other bidders then they get it.
Companies that want to participate in the auction were required to submit a bid last Monday. Once you submit a bid you can participate in the auction. The auction happened Thursday. They select the winning bid and a backup bid in case the winning bid falls through. So yes it’s good that there was an auction because now we know there were at least two companies bidding for the assets. We just don’t know how much.
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