In Australia often contracts between Government and a private-entity are declared commercial-in-confidence to prevent disclosure of information that could affect the private entity. I wouldn't be surprised if this is common in the US as well.
In Europe we have this system where public deals above a certain cost are open for everybody. If you meet the requirements best, you win the deal. Problem with this system is that the requirements are rarely written down properly, causing half-baked solutions meeting bare minimums and extra costs to fix them. For example, that is why we Europeans are unable to produce proper governmental IT systems, or buy new trains that won't break down due to cold weather.
Here is an article with more details.
https://www.google.com/amp/s/www.cbc.ca/amp/1.1135699
The point that they are now profit seeking private or not is true.
There is a massive difference between a Crown Corporation running as a for profit enterprise where any profits return to the Crown and a privately owned company, especially one that was "spun off" and privatized at pennies on the dollar.