I think we see an inflated bid from europe or asia given the dollar depreiciation. HUNs bid was a low ball for sure.
I beleive someone posted an article a few weeks back that stated Tronox had recieved 12 more bids. Finally to complete the ebay analogy...no one likes to be the first bidder. Once someone has made a first bid you then see many more pile on. Thanks Huntsman.