Round 2 bidding.14 Jan 2021 23:00
I haven't been on here today so apologies if this has been discussed which it probably has. However, from what I have found we are heading now into round two bidding. All the non binding offers are in and being reviewed by our advisers (we are here).
We will select the offers we want to take forward into round 2 bidding (binding), where the potential buyers advisers will do final DD into any confidential info, tweek the offers or pull out. This process usually takes between 4 and 8 weeks to receive a formal offer.
Next stage is selecting best offer final negotiations.
The thing I am unsure of is how long it usually takes the sellers advisers to decide which offers to take forward from where we are to round two bidding. If we choose to take more through then we have a better chance of a bidding war, if we take less and carefully select it would be easier on the advisers later on.
I think we should have an update on FSP within 12 weeks from now on the later end, giving them a few weeks to decide who's going forward etc. Fingers crossed it's as big as we hope.