Cerberus is benefiting Billions of dollars and then throws a bone at SVU shareholders (max $250 M thru tender). Even if the price goes to $2, Cerberus loss is only $125 M in SVU compare to what it is getting out of the deal or billions of dollars.
Cerberus does not care about SVU and its shareholders. The purpose of this tender was to shut up some shareholders and a chance to exit. Listen to Sales comment. We wanted to give shareholders immediate benefit. On the other hand, exit while the tender is going on.