Posted By:
LetsGoBucsI'm not a lawyer, I haven't slept in a holiday inn express recently, but....
If groups are formed to bid and buy then there is nothing wrong with that.
Look at the number of public and private companies that put themselves up for sale.....and equity firms join together to put in bids and many times you have two or three syndicates placing bids for a business. Sometimes there is only one. Is it illegal for the three firms putting up money in that instance? No it isn't. Could the firms/banks buy the company on their own? Maybe, maybe not.
So if its ok for multi-billion and multi-million syndicates to be formed to bid on firms......I have to surmise that its ok for baseball cards.