They can’t risk offering 5 or 6 cents as it will get blocked all...

They can’t risk offering 5 or 6 cents as it will get blocked all day long by shareholders and then the sp will rally to that price and I’d assume that would trigger counter offers from other parties and start a bidding war , if they make a formal offer it wil have to be reasonable from the get go or else they risk losing it to another bidder and also risk the sp rallying !!
12 to 15 cents might get it across the line at current state