I would have them hire a new CFO (my man). He would also most likely get the title "Executive Vice President". In this position for one full quarter he would become intimately familiar with the company and financials. This is how I would do my DD.
If the buy out goes to completion, I would then have (my man) in a position to become CEO.
There are so many things that could be going on here, I want to hang arround and see what happens! I am expecting a good Christmas......