If there's any truth in the rumours then obviously from a purely historical point of view, the loss of the Gibson brand would be a very sad day indeed but the fact is no one wants their crazy designs, plywood Hendrix strat clones and Les Pauls that plug into a USB socket. The "customer review" section of the Gibson website is often filled with bitter criticism of their new guitar designs but the company seems determined to ignore the customer and plough on regardless with guitars that don't really appeal to anyone except the designers and marketing men.
Peavey takeover? Probably the best thing that could happen to Gibson right now, it would certainly ensure that they start listening to what musicians want from a guitar company.
I wonder if Fender would put a bid in? £65 Squier Les Pauls made in Indonesia with bolt on necks, those would sell like hot cakes.