The market place can't stand it either. that is why ANAD is a sitting duck takeover target. I find it impossible to believe that at this lowly valuation, and this point in the largest up cycle in history, with all of ANAD's design capabilities, product portfolio, and ready to crank at a moments notice underutilized FAB that this board is not either sitting on an offer, multiple offers, or are currently in negotiations.
I cannot see a scenario where every last peer or adjacent participant is so foolish that they will allow ANAD to pull off another of their very obvious comebacks that they ALWAYS do. This time is no different other than ANAD shot themselves in the foot at the absolute WRONG time where it has left them at giveaway cycle bottom valuations while all potential acquirers are valued multiples HIGHER.
This makes an all stock or mostly stock acquisition nearly painless for the right buyer. As long as a reasonable offer is made there is not a chance in the world ANAD management and board who own very few shares themselves could marshall enough shareholder support to beat back even a truly hostile takeover.