Toys “R” Us continues normal business operations across Canada

[cobralegion]

Originally Posted by Hoffman

I'm pretty sure the bid has been accepted, it's just a type of bid where others have a chance to out-bid them. My understanding is that if nobody else bids, they have agreed to purchase.

Yup looks like it and looks like their multiple bidders was a wrong..Fairfax was the only bidder. But at least it looks like they will stay in Canada for a little while. https://www.ctvnews.ca/business/toys...dder-1.3897971
"Toys 'R' US ends Canadian stores auction with Fairfax as the only bidder"

[wedge1021]

There was a couple other bidders but their offers did not qualify as per the auction rules, so they were all rejected except for Fairfax.

[cobralegion]

Originally Posted by wedge1021

There was a couple other bidders but their offers did not qualify as per the auction rules, so they were all rejected except for Fairfax.

Hm..articles I read said no other offers were registered as of Monday. Wouldn't any offer be considered an offer not just because it didn't meet the price they wanted. One week they say they have multiple offers and then the day of the auction they cancel it because they have only one bid? lol. Anyways it seems like its a go with Fairfax so that is great news especially for those working at TRU. Lets hope they can now get product in and maybe without the parent company get in a number of lines they don't usually touch.

[wedge1021]

Originally Posted by cobralegion

Hm..articles I read said no other offers were registered as of Monday. Wouldn't any offer be considered an offer not just because it didn't meet the price they wanted. One week they say they have multiple offers and then the day of the auction they cancel it because they have only one bid? lol. Anyways it seems like its a go with Fairfax so that is great news especially for those working at TRU. Lets hope they can now get product in and maybe without the parent company get in a number of lines they don't usually touch.

Of course now I can't find the article that I read it in. Anyways, the gist of it was that there were a couple other bidders, but since their offers did not meet the qualifications I guess they would not have even been counted as "qualifying offers" and allowed to even be registered. It made it sound like a qualification was that the bid needed to be solely for the Canadian arm. So the other offers probably included the US side as well (like the Larian / MGA bid which was rejected). I guess journalism isn't what it used to be these days!

[turtle power eh]

Originally Posted by wedge1021

Of course now I can't find the article that I read it in. Anyways, the gist of it was that there were a couple other bidders, but since their offers did not meet the qualifications I guess they would not have even been counted as "qualifying offers" and allowed to even be registered. It made it sound like a qualification was that the bid needed to be solely for the Canadian arm. So the other offers probably included the US side as well (like the Larian / MGA bid which was rejected). I guess journalism isn't what it used to be these days!

PR 101, tell the media there is plenty of interest to try and drum up more interest...just like sports trades lol