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Brookfield's plan is now a de facto "stalking horse" bid, setting a floor for all offers for the company.
He assumed the role only minutes before Microsoft faxed over an unsolicited $44.6 billion takeover bid, setting off months of wrangling that failed to bring a deal.
Kesa Electricals, which owns the electrical retailer Comet has rejected a 1.7 billion pound bid, setting off a wave of speculation that buyers could be waiting in the wings for other British high-street stalwarts.
That battle, joined by nearly every major investment bank and private equity firm of the day, culminated in a showdown between Mr. Johnson and his erstwhile partners at K.K.R. Ultimately, K.K.R. prevailed with a $25 billion bid, setting a record for leveraged buyouts that was unsurpassed for 19 years.
When Gawker filed for bankruptcy, it had an agreement from online publisher Ziff Davis LLC to buy the company for $90 million, but this was only meant to be a stalking horse bid setting the floor price in an auction process that is now underway.
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The bid set off much excited talk.
Google's stalking-horse bid set a floor price of $900 million.
Losing the bid set off a 40 percent decline in its share price Friday.
The stunning bid set off a weekend of frantic litigation among all three companies.
The bid sets up a potential bargaining battle by the owners of New York's two tabloids: The Daily News and The New York Post.
With the minimum bid set at $8.65bn, and reports that Yugansk's tax debt could rise as high as $7.8bn, the company is expected to have other assets confiscated and sold to pay off the debt.
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