takeover target

There has been some interesting theories and comments regarding the dip of share price recently. I for one am still suprised how the share price is 32 cents yet the recent CR occurred at 37 cents combined with the potential <12 month earnings upside.

What about the idea that the share price is being kept down due a takeover offer in the works? Are there any rules regarding the timing of a CR and then a friendly takeover bid?

My idea might come across as ignorant to some but I thought I would just throw it out there. I am interested to read other poster's comments.