Looks like they are getting set up to do it themselves (maybe...

Looks like they are getting set up to do it themselves (maybe with a partner).

Unless there is the prospect of a deal or JV being announced soon there could be quite an opportunity cost in holding IOH in this market (which is showing all the signs of a strong move up). I think that is why the share price is weak - traders are bailing out to move on to more profitable stocks (at least in the short term).