Replies to post #14863 on A123 Systems fka AONEQ

[stokjockey]

The bidders will submit their bids tomorrow. The bids usually start at the Stalking Horse bid, (JCI) and the bids go up from there. Typically they increase by the amount of the Break up Fee, (2.5M) which is a fee that the Stalking (JCI) gets if they are outbid.
Each bidder will submit what maximum bid they are willing to go up to, and the auction goes from there.
Now JCI had offered 125M. I guess they start there. But JCI should have submitted a max for them because they have to know 125 is not going to buy it considering the 100M grant money still out there.