Why Can't Other Guys in Suits Pay More?

Judge Drain, the judge overseeing Delphi's bankruptcy, agreed with the company's lenders who objected to the $3.6 billion sale of the company to Platinum Equity and asked for more information to decide whether they wanted to make counter offers. The judge's logic: "What's so special about Platinum? As far as I'm concerned, they're just guys in suits. Why can't other guys in suits pay more?" Platinum defended itself saying it understands Delphi's business better than anyone else as a result of working with the company for the last few years and that its deal is a sure thing.