Pretty bizarre take. How many deals have PRU been a part of? This certainly isn't their first rodeo.
Just because they haven't blown their load prematurely with a counter offer, doesn't mean they're not interested. They communicated as much to SVM management when they asked to retract the previous "landbanking" comment.
PRU know they hold all the cards because the SVM offer is crap.
Ann: Replacement Bidder's Statement, page-5
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