I have no problems with the PR. This is a complicated sale. Comparing bids may be like comparing apples and oranges. One bidder may seem more acceptable at this point to the court because of what they are willing to do to preserve the artifacts, even if their bid is a bit lower. One bidder may be interested in buying the entire company, including the salvage rights. Another bidder may only be interested in the 5500 current artifacts and the associated intellectual property. A third bidder may be interested in hiring PRXI people to preserve and display the collection. This is not simply a painting that goes to the highest bidder.
Bravo to the company for not feeling artificial time pressure, and trying to weigh and negotiate all the possibilities to get this right for shareholders.
The thing I find interesting is if you are a bidder and you bid say 200M and then were told that you are too low. Wouldn't you then begin to buy up all the stock? Or maybe they will just keep everyone in the dark and make a final announcement to the winner.
Well thought out. Traders will trade on the news, there are those who are short in this stock hoping for a less than stellar outcome. Too much history at stake here for this to go under the early appraised value.