HNH & Peerless have each filed preliminary proxies with the SEC
Their proxies (and MLNK's proxy) are all preliminary since there hasn't been a date certain set for the annual meeting. HNH & Peerless' proxies are pretty similar - they maintain that the company is in disarray, and that certain officers have been financially rewarded despite the drop in MLNK's financial performance and their share price. The delay in the strategic review process is pointed out, and the company's failure to provide updated financial information to the SEC. In both cases, HNH & Peerless are looking to put their nominees on the BOD. There is also the possibility that a 3rd party, Clinton Spotlight Master Fund, L.P, will file a proxy, so if you're a MLNK holder, expect to do a LOT of reading.
The above is just a quick summary, and you need to do your own DD on all the details. Unfortunately, Yahoo doesn't allow hyperlinks anymore, or I could link them for you. You can access them on the MLNK website under Investor Relations (click on SEC filings).