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"But not the institutional bidders".
Christie's said it set the estimates on the low side to attract institutional bidders, hoping that the collections would remain intact.
"It says something for the area and the asset," said Douglas L. Harmon, Eastdil broker, "that a number of large institutional bidders like TIAA showed up for the Dreyfus sale".
Similar(57)
"I never thought he was a really credible bidder," one institutional shareholder said of Mr. Kerkorian.
That, the bidders hope, should please institutional shareholders, who have often watched private-equity firms run rings around them.
In addition to institutional interest, there has been a significant rise in the participation of Chinese bidders in the Geneva vintage watch sales — not their usual hunting grounds, according to Christie's.
In the modified Dutch auction that Google has chosen as the medium for its initial public stock offering, bidders like Mr. Abraham, Mr. Pincus and Ms. Trout will be on the same footing as large institutional investors -- like the managers of pension funds and hedge funds that cater to the wealthy.
City analysts have valued the UK's stake at £200 million, but warned that institutional investors are unlikely to be interested with SNCF expected to come forward as the sole bidder.
He said several potential bidders balked at the complexity of distributing food in the city's public schools, the nation's largest institutional customer besides the Department of Defense.
Unlike most foreign bidders, Santander is not offering shareholders the option of a full cash bid, to the dismay of the big institutional investors as well as the Sids who bought when Abbey demutualised in 1989.
Potential bidders were unclear.
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