In 1976, the Crown announced that it planned to develop Bastion Point by selling it to the highest corporate bidder for high-income housing.

They had two choices: sell out to the highest corporate bidder, or sell enough shares to bring in some cash but not enough to lose control.

Indeed, corporate bidders are in a bit of a quandary.

And those limitations give any corporate bidder much more certainty about how an offer might progress.

In effect, this decision puts our representative democracy up for auction to the highest corporate bidders.

CNOOC's bid faces an uphill battle, with hurdles that probably rise above those usually confronting a corporate bidder.

They whine about democratic deficits in Brussels, but have been quite happy to sell this country to the highest corporate bidder.

Sydney organizers also came under heavy criticism for deceiving the public about the withholding of 500,000 tickets to be sold to corporate bidders at three times the normal price.

In fact, sources said, JPMorgan Chase is not the only corporate bidder for the site.

Then again, she said, selling naming rights to the highest corporate bidder is a fact of modern sports life.