Basic contract principal - a contract consists of 1) and offer; 2) acceptance; and 3) consideration. A BLOI with monetary penalties, although titled a letter of intent, is a contract. Thus, until you have acceptance, you don't have an enforceable agreement. It seems that it is MP that has hesitated to move forward after Amerop's initial expression of interest, so Amerop files its October letter to try to force the MP BOD into action.
A tender offer doesn't put money in the Company's coffers, which would then be used to pay off Drexler's notes. It simply doesn't accomplish Amerop's stated goals.
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