Stalking horse bidder can by agreement, and with court approval, modify sales and investor solicitation process ( "SISP") and can negotiate a break up fee.
Did some reading today and it seems that stalking horse bids are pretty common in the CCAA process in Canada and offer some advantages to a motivated buyer, especially if the buyer is looking to acquire all the assets and not just pieces.
I am reading alot into the news. I am assuming the buyers and Quebec govt. officials want this done asap.
If Quebec government is willing to assist financially to improve potential operating margins,then these assets are worth even more to a buyer.
Red attacks not as effective.