Is this the end for Vivus (NASDAQ:VVUS) as a publicly traded company? Investors are left wondering after the Aspen Investment Fund disclosed it had a 9.6% stake of the embattled obesity drug maker, and was contemplating making an offer of $640 million for the entire company.

Shares of Vivus had a rough go, losing more than 80% of their value from 2012 highs as sales of its obesity drug haven't come close to fulfilling blockbuster dreams. Activist investors First Manhattan and Sarissa Capital managed to take over the board and change the CEO, but they haven't been able to change Vivus' fortunes. Will we see a fight between the funds for control of Vivus, or will they use this opportunity to exit what has surely been a losing position for them?

Motley Fool health-care analysts David Williamson and Michael Douglass discuss today's surprising disclosure, what this means for Vivus, and how it could impact its competitors. Watch and find out.