I agree, if you are not interested in participating then I think the best option is to sell. I think the inference is that should this deal not go ahead the company risks breaching its banking covenants.
I think this stock will follow market sentiment if world markets do not pick up then this stock may wallow in the low teens for some time.
BTW Lost they don't build any front end software only high volume back end systems, so they are unaffected by organizations building their own .net front ends. BVA are a java/Oracle shop aimed at big volume players.
BVA Price at posting:
13.3¢ Sentiment: None Disclosure: Held