AUTOS: Rolls-Royce, Anyone?

It looked like the ultimate humiliation for Rolls-Royce Motors Ltd. In late March, the famous company was put on the auction block—and last week it developed that nobody wanted to buy it at a price acceptable to Bankruptcy Receiver Edward Rupert Nicholson. He had asked companies interested in purchasing Rolls to submit sealed bids, which were opened last week. No foreign company made a bid, because the British government would not have let a foreign purchaser use the Rolls-Royce name. Ten British bids were received, but all were below the $120 million or so that London financiers once estimated Rolls-Royce...

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