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.
Ann: Pause in Trading, page-22
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Last
$1.80 |
Change
-0.005(0.28%) |
Mkt cap ! $254.3M | |||
| Open | High | Low | Value | Volume |
| $1.82 | $1.82 | $1.80 | $399.5K | 221.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 139489 | $1.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.81 | 33973 | 2 |
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| QIP (ASX) Chart |