Oh dear Squeaks. Please recognize that I wasn't asleep when the first stake was put in the ground. I am fully aware of the starting point of $4.20 from Bain but it was merely a bit of kite flying at that stage. The ladder I am talking about is when we get down to the serious stuff ( presumably after the end of next week.) Is there going to be any ladder at all or are the three interested parties going to walk away ? So I was talking about the beginning of the serious bidding. Now if one of the three makes the first definite bid then we might expect that it will be at that $4.60 level that all three contenders have settled on so far in order to look over the books. Then if the other two are still up for it we could then see counter, higher bids coming in as each contender tries to climb a rung or two higher. I would imagine that if IFL has attracted interest from three major international firms, and they are serious, then a bidding effort that heads over the $5 level will be par for the course in order to secure the prize in the long term. If any of the three do not have the war chest then why bother in the first place. We'll see what turns up this week.
IFL Price at posting:
$4.47 Sentiment: Buy Disclosure: Held
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