I agree with your comments and admit my interest came from the suite of properties and not just TPW.
This adds to the potential complication and time required for negotiations under the CA. They may or may not be talking about just TPW and negotiations are likely bounced around between properties.
ie a low offer (in dollars and/or terms) by AEM might be countered by EXS with acceptance conditional on the removal of Kidd and Montrose (just darts on those two properties), and then EXS does a deal with a a different third party on those. AEM then counters with first right of refusal on those two and so EXS puts time limits on their opportunity to execute those rights... the details and combinations are endless...
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