The Auction - II

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.