Can anyone explain what the heck is going on with VPG of late?...

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.