After a long moment, Goldman Sachs conceded. Barclays had won the second round.
"Sold, for $1.2 billion USD to Barclays," the auctioneer announced.
After 2 consecutive rounds of heavy auction, there was break which was given to these companies so that they can talk to their higher ups and be prepared for the last 2 rounds.
And after some time the third auction began
The price had already skyrocketed, and everyone was recalculating how much they were willing to pay for a piece of LIC.
"Starting at $700 million USD," the auctioneer announced.
This time, Dai-Ichi Life Insurance came in strong, opening with a bold $750 million.
The Japanese had been biding their time, and now they were ready to strike.
The other teams knew that Dai-Ichi was a serious contender and adjusted their strategies accordingly.
BNP Paribas quickly countered with $800 million.
