Not so sure about your scenario. I will however say that from a management life cycle point of view you see managements of many companies make the big, final push to leave their mark and earn their fortunes in their early to mid-50s. If after ten years of plan implementation, and despite their best, hard-fought efforts, the stock price has not responded, and the market has not seen fit to agree with or reward their efforts---a reassessment often takes place. Now in their mid to early 60s, many management heads begin to think about retirement and how they want to spend the last 15 or so years of their lives. Often times that's when companies go up for sale, as personal priorities change (spending time with the spouse, doing everything on your bucket list, fishing whatever).
In this specific case you also have two founders facing inheritance issues as well--many times those individuals want matters resolved rather than simply dumped into the laps of their heirs, who may or may not have an ongoing interest in the business. Bottom line, top managements and founders do not usually leave the ultimate wind-up of a company to a default option. They want to control the outcome as their last act of management, reach closure and move on with the final chapter of their lives. Maybe now is not the time for this to happen w/VSR, but odds are its not very far down the line. If the share price was at $7-$10 I'd tend to think it was imminent, not at $2.50.