please explain?

Can anyone explain what the heck is going on with VPG of late? Is all the current activity & notices being lodged related to the take over offer or are we looking at other parties positioning themselves with a view that a higher offer will come? $1.80 didn't seem high enough as a bid in my opinion, the market seems to be lingering just under that price, various newspaper articles have made the case for & against the chance of a higher bid & I'm confused.