I would venture to guess that there are very few people out there who are interested in pushing hard cash around for a Lost Cause, or that have anywhere near that many shares. Who is to say that the order is all or none. Is that something you can tell with the right monitors!?
I believe if they were really interested in buying, there would be a huge bit at the ASK. No, this is only a play, and the Bidder knows there are very few Stockholders out there that have that many shares, so the risk... No that much.