LBO is a management led take over, poison pill is to fend off unwanted acquisition offers, not necessary if management approves its own offer.
If Raj and Co. hold onto any good news and shorts are allowed to take this down, Mgmt may see a really attractive offer and buy the Co. for themselves. @ $15-$16 it is a 50% appreciation which does not seem bad on paper given where we are trading. Should the shorts push this down lower a $12 offer may seem very attractive.
Sadly, LBOs are never good for the longs or the shorts and shorts bring this upon themselves. Co. has sufficient cash and lines of credit, Raj and Co. just need approx. 200-300M to make this happen.