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 lml2000Whazzup
join:2000-08-17
Los Angeles, CA | reply to dsl_boy1
Re: Hmm, this quiet period is not so quiet I think one way this issue can be reconciled is the fact that Northpoint is in a quiet period, and therefore will not "disclose to the public specific information about bids, bidders or the amounts and value of the bids until the auction process is concluded and approved by the bankruptcy court."
However, such "gag order" on Northpoint does not seem to prevent the bidder themselves from leaking, intentionally or negligently, to others their intention to bid at the auction later in the month.
And to take Don's angle, to state or imply one's intent to bid does not in-fact mean that a bid will actually be submitted on the day of the auction. Of course it is in Northpoint and its creditors' interests that such rumors imply more bidders than less, larger bids than smaller ones. Hence, there may be some attempt at manipulation of perception among the bidders as to who will bid at the auction and the overall level of interests for Northpoint assets.
In retrospect, I would be more concerned is such sources were leaking a non-interest in bidding rather than an interest in bidding for Northpoint's assets. To create an aura of interest in such assets serve Northpoint, its creditors, and lest we forget, the lawyers, well.
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Regards,
lml | |
| said by lml2000:
However, such "gag order" on Northpoint does not seem to prevent the bidder themselves from leaking, intentionally or negligently, to others their intention to bid at the auction later in the month.
Perhaps. But I suspect that a company that wished to announce that would simply do so, rather than "leaking" the information.
I suspect Justin's info came from a source within Northpoint. | |
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