Bidding on public corps?

I just noticed that when looking at a public corp, I have the option to place a bid on it. Why is this? I thought public corps were public?

The controlling entity is a country and owns 55% of the shares. Does that make any difference?

Yes, you can bid on it. If you win, you buy all of the shares of the controlling shareholder.

It's a bit strange and not like real life.

Odd. I thought going public was an insulation against bids.