kimco realty to buy shares in valad, page-12

Why would Kimco invest $200 million at $1.33 is Valad had problems ?
Perhaps loyal holders feel let down by the decision to issue shares at a level far below it's peak ?

I think UBS are selling it down to $1 and then letting it recover before their next wave of selling. It has bounced of this level a few times now, but has trouble getting back over $1.25.
It does look like a very good trade at these levels.