02-16-2013, 11:48 AM
Chatter is there are at least 4 conforming final bids coming no later than February 28th and there could be another 1 - 2 NON-CONFORMING bids as well. Non-conforming bid = bid for more than 32.5% of E/A ...all the way to 100% of IOC. The IBs will be working feverishly to model each final bid and get financial and deal analysis ready for presentation to the Board in early March. I have been through several deal auction processes involving IBs and multiple bidders. My best guess is the IBs will need 7-14 days to get all the models, scenarios, presentations, opinion letters, internal IB sign-offs, and a final recommendation prepared for IOC's Board.
Very exciting stuff. I would hate to be short starting the week of March 11th
