I'm sure ISU and Goldman's are analysing any 'proposals' on the table...
Even if a T/O doesn't eventuate, I suspect the 'market' won't shed too much value off ISU, if IHA and the like are 'lobbing' indicative offers, it shows they see enough 'unrealised' value in ISU to make a move...
P/B ratio is still stilling @ 0.81, so there's ~20% to be made right there, let alone any earnings potential and/or 'cost-reduction' synergies that may be realised...
Patience, and time will tell, that is the viritue...