I agree about the quality,etc. However, as you indicate the run up of the past 30 days of 30% could indicate a premium price uptick is already priced into the stk. & the present buyers could be paying a premium to an already agreed to price(behind the scenes) between the 2 cos. My opinion
The big boys don't seem to be diving in to run ALJ up - they could know something- like it not a shoe-in to be bought out at present. Buyout offers are rejected & withdrawn for a variety of reasons. Stk. is just not behaving like a sweet buyout offer is coming. My opinion.