big dumps on open, page-31

Bain out puts more risk into the process, if they saw something they didn't like, are TPG going to see the same thing and withdraw. Then the SP tanks to pre bid days of a $1.

Is known PE firms don't like to bid against each other.

There is still the option that another group doesn't bother with due diligance, waits until TPG puts a number down, and then they come in over the top with a solid takeover instead of Arrangment. Basing decision on if TPG thinks they can make a buck, a trade buyer with synergies can pay a bit more and make a go of it.

Fun times,

Nuts