The dynamics of the offer and potential reauction are interesting. Since the top bidder was essentially going to pay the 2nd bidders highest price (we can’t kn

The dynamics of the offer and potential reauction are interesting. Since the top bidder was essentially going to pay the 2nd bidders highest price (we can’t know what the top bidders price would have been), it’s very strange that they tried to extend an offer to purchase at the 2nd bidders highest price. I would have expected them to extend at the first increment above the 3rd highest bid, as this would have been the result without the first bidder. (And then presumably they could sue the highest bidder for the difference in damages.) Doing a reauction will be strange, and it creates a weird kind of arbitrage opportunity. Why would other (legitimate) bidders show up when they already know Mr Gural’s bid will be higher? Perhaps there will be only spiteful bids from competitors to ensure that he doesn’t get a deal. Perhaps it doesn’t matter, as they would presumably be able to sue for damages for any difference here as well.