Are bakeoffs public?
If a company is holding a bakeoff, is that something that is publicly announced, or is it kept totally secret until the deal itself is formally announced?
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Typically not disclosed, though some companies do publicly announce they are "exploring strategic alternatives."
Private companies don't announce this though.
You typically have to sign an NDA before receiving access to company information that will go into your pitch. While there's no legally binding doc that prevents you from telling everyone you got invited to pitch, it's a great way to lose potential clients.
A lot of "chatty Kathy's" out there... particularly with balance sheet banks lol (as you know!)
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