RE:RE:RE:Insiders can't sellA buyout by a larger entity is simpler because the counterparty is swallowed whole. A merger of equals is difficult due to the decision of who goes and who stays. There are likely also fairness reports and other legal niceties required for public entities that take time to provide.
Either that or the process is dead and the BoD is desperate to find a Hail Mary play before pulling the plug. If no deal is done, my prefered option is an emphasis on capex, not for growth per se but to secure reserves that support the return of capital model long term and then to allocate fcf to the best method of supporting the SP.