I think a tender offer is something that might be

I think a tender offer is something that might be considered hostile, or at least not friendly. Before there is a tender, the prospective buyer would contact management I would think about something other than a large stock purchase, to determine which way management is going to lean and what management has in mind. And management would be obligated to tell the sweating masses.

Take a look at the bid. 2 million shares bidding from one prospective buyer.