You have to look at the trend. The substance of the 8K was verified and discounted on the first day when the news broke. From now on, volatility will be based on new information and shareholder/trader emotions.
The offer letter was also filed under SEC. The only downside is the MBO is an individual effort. Risk is anything can happen, like sickness or accidents to the CEO. Would be better with a bank or a giant partner to back up the deal.