well nothing substantial is for sale, so overbidding is not an issue in this case. the one thing you have to hope for is that the assets like GE Seaco and the rest are truly valuable enough such that the inevitable downward pressure on valuation still leaves equity in the money. Also hope that mgmt has integrity and does the right thing instead of caving into the pressure and promised fringe benefits. This is not really unusual - this is really the more normal path for big companies - like Solutia, Delphi, Dana, etc in recent past. You really want Sopris and Marathon sticking their nose as far as possible into the middle of the process once it gets started.
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