We don't have all the information to come to any conclusions. If bidder a) indicated the maximum they would pay was $1.20, bidder b) $1.25 & Rouse $1.40 it would be entirely appropriate to only open the books to Rouse.
Aside from not being given access to the dataroom both the other bidders could go public with a higher indicative offer after any conditional bid from Rouse is forthcoming forcing the board's hand. I've seen it before happen when exclusive access hasn't meant the eventual successful bidder.
QIP Price at posting:
$1.33 Sentiment: Hold Disclosure: Held
