Bounce rate of 70% + is shockingly bad for an e-commerce site....

Bounce rate of 70% + is shockingly bad for an e-commerce site. Average time per visit i think its around 1 minute. Need to also consider that the talks of a take over have most likely been going on for 6 months , so fair to assume one would be doing anything to boost up the site visits and make things look as good as they can.
Anyway the site metrics may serve as one source of truth and may help paint a realistic picture.