Greg, it is very likely the buyer doesn't want to be disclosed until the very last minute so they can buy as many cheap shares as possible on the open market. I have been having problems getting new orders filled at the ask, as I know others are as well.
Also, if we knew who the buyer is, it could start a bidding war from other companies. The buyer probably wanted the equipment on site on the day they take over so they are at full production on day 1 after the buyout. If a bidding war starts, I would not be surprised to see the PPS move quickly past $2 per share.
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