Not gonna lie, I think Florentino Perez didn't ACTUALLY bid for Álvarez. I think Real Madrid’s offer may have even been coordinated with Atlético to make Julián Álvarez’s move to Barcelona more difficult, because I can’t find any logical way how he would fit into Real Madrid’s squad.
With Mbappé and Vinícius already in the team, it just doesn’t make much sense and also I believe it was a PR stunt by Pérez for the elections.