Why would the target company announce that it would consider selling itself when there is clearly an interested buyer–the one that engaged in doing the bear hug?
At this point, it is clear that the target company is “in play” for a prospective acquisition. As a result, any other suitors out there that were considering buying the company at one time will suddenly feel pressure to re-evaluate their interest and move swiftly, if they believe it still makes sense, investment bankers say. Other possible suitors may include MySpace.com parent News Corp., AOL parent Time Warner, and AT&T, an analyst with Credit Suisse said.
