Friendly merger not likely since a director has sold 30,000 shares in the last 4 months.
I don't see the connection, manInsider selling and buyout. SGDE insider has no share.If the company has value higher than current stock price, either from synergy or leverage of high debt (stable income) there is buyer.
Connection is actually fairly clear. If buyout/merger is in work, a company director will not sell 30,000 in anticipation of the merger.