Yes, I've noticed it also, although it might just be 'the market' shaving-off the SP-delta as the curtains draw closer...
I'm still 'cautiously optimistic' of a 'counter' offer, a lot, ~25-30% of 'issued' VLA-shares have 'changed hands' since the offer, and not a single 'option-holder' appears to have 'exercised' since 10 Jan, execs and/or otherwise...
Although unlikely, what's to say a 'competitor' hasn't be been quietly accumulating with a view to a 'blocking-vote' with a 'counter-offer' presented very close to the court-date... If it were a poker-game, one wouldn't reveal their cards/strategy play until the 'river' is out in the open...
Either way, $1.75 will remain the 'floor' until the 'gavel' comes down, or a 'counter' offer is presented...