I have not seen the specific terms, so you may be right. I am certain he is in for a score. But note- just because he knows it does not make it inside information. Inside information pertains to information about the debtor that is known by the debtor etc.
The rejected offer was not a bad one - they may be undervalued, but only if the buyer has money to free up the balance sheet. They are owed 50+ million by Libya and that debt is killing them. They did refinance that debt and things looks better, but still not great. The reason they did not accept the offer is that the Richter family started and still owns a lot of the company. Even for a good offer you would reject selling your family business. That is what happened here. If they were to sell it would be for 10+ and no one - I repeat will pay 10 for this company as it sits