I own shares of NRGP, which accepted a buyout offer from NRGY, which already owned a chunk of the stock. Not the same as FSIN, but not that different. When the buyout offer was announced, the same law firms surfaced, touting the same "investigations". That was a couple months ago. Nothing has happened since--no litigation, no change in the offer price. And this offer has since been approved and accepted by NRGP unit holders.
The market certainly doesn't think this offer will be sweetened--FSIN is trading well under the offer price. If any arbs were interested, I don't think that would be the case. And since the CEO owns 29% of FSIN, I doubt there'll be any other bids.