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A stalking horse bid is an initial proposal to buy an asset from a distressed company (most often one that is bankrupt or in bankruptcy protection). Usually, the company or its receiver will select a buyer willing to make an offer. The idea is to establish a minimum price for the asset, by getting a first bid out in the open. This keeps lowball offers off the table and sets up a competitive bidding process. The stalking horse bidder usually gets a break fee if it doesn't end up as the eventual winner.  2, fiche 1, Anglais, - stalking%2Dhorse%20bid

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