So you are saying they can run up the bid as high as they want and then bail? Sorry, no! That is not the way it works. If that were the case I would not even bid against them since there is a good chance they will just run it up and let you hanging on to a huge bid, that should not ever be that high. Does not make sense.
Like I said "WE WILL SEE IN THREE SHORT DAYS". Open your eyes and use common sense not greed.
This is mostly correct. Any foreign entity needed to submit paperwork to CFIUS already to be a certified bidder. That and come up with the required financials and cash. CFIUS approval can take 30 days or more, and this was an issue right from the start...but Wanxiang (and anyone else) can indeed participate in the process.
The bid procedures give all bidders the opportunity to get any necessary regulatory approval within a reasonable time frame following the auction.
I would assume that these issues may play a big role in the sale hearing on Dec. 11.
This is mostly correct. Any foreign entity needed to submit paperwork to CFIUS already to be a certified bidder. That and come up with the required financials and cash. CFIUS approval can take 30 days or more, and this was an issue right from the start...but Wanxiang (and anyone else) can indeed participate in the process.
The bid procedures give all bidders the opportunity to get any necessary regulatory approval within a reasonable time frame following the auction.
I would assume that these issues may play a big role in the sale hearing on Dec. 11.
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