businness spectator atricle of rumoured offer

Why would Lend Lease and NRDC offer a proposed 13 billion for Centro when they could put in an offer of lets say $1/share (not saying it is worth that amount just doing it for round figures) which would cost them approximately 1 billion, and they would then own all of CNP and a 51% stake in CER.

They could pay somewhere between 3 and 5 billion off current debt and the banks would then be happy with LVR and business would role on as normal.

The above would cost them between 4 and 6 billion which is less than half of the rumoured 13 billion being offered.

Interested in others thoughts.