Yes, there is because of
1- 40% short who get margin call mostly and there is not enough shares to match shorts
2- As investors tender their shares then there will less and less to trade.
3- Well, the stock probably worth higher what Cerberus pays.
I think Svu was in violation of their covenants last year before the preannouncement of earnings. The decision had been already made that the company wasnt going to go bankrupt. The big share holders want their money back and it will be done in the equity market. Now the interests of the big money is in the direction of mine. I havent sold a share and will not tender at 4.00.
At this moment, both stockholders and Cerberus want the price go up. Even Sale and other exc mangers want the price go up( with their stock option). I believe Cerberus and SVU management are going to do what ever they can to make higher pps. This have nothing to do with tender offer. And don't forget as Jan 15th there are 85 million plus short, they all need cover as price go up.