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Therefore, the formal auctions were the exception rather than the rule.
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There hasn't been a formal auction for a public British company since 2008.
Must an e-marketplace relegate customers to formal auction bidding in their service transactions?
People close to the insurer say that it might also favor Transatlantic beginning a formal auction process.
But it took the Kinder Morgan deal and a formal auction of the businesses to prompt formal interest from Apollo and other suitors.
For Mr. Clinton, the decision to negotiate his book deal privately with Knopf avoids the publicity and rigamarole of a formal auction.
According to the report, the drugmaker had tentatively approached PepsiCo, Danone, Nestle, Kraft and H.J. Heinz to test the appetite for a formal auction of Mead Johnson.
While the company didn't run a formal auction process, it wasn't shy about pitting would-be suitors against each other to elicit the most favorable deals, according to a person with direct knowledge of the talks.
While the company spoke with a number of suitors in addition to Energy Transfer and Williams, it did not run a formal auction that could have fetched a higher initial price.
Shell's announcement comes after a ruling last week by Britain's takeover panel, which said the rival bidders would have to enter a formal auction process on Monday if no decision had been made.
NEW YORK TIMES Cerberus's Effort to Exit Gun Maker Moves Forward | The private equity firm Cerberus Capital Management announced last year that it would shed its controlling stake in the Freedom Group, and it "is expected to kick off a more formal auction process this week to narrow the field of interested parties," The Financial Times reports.
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