A report by SemiAccurate claims ASUS is now worried about ASRock getting too large, and that the company has made a bid for ASRock's motherboard division. According to the article, ASRock's parent company Pegatron, which is basically ASUS' former manufacturing arm, is essentially fine with the terms.
SemiAccurate adds that if the buyout goes through, ASUS will become by far the largest motherboard maker, and speculates that the already unhealthy industry would likely collapse into two players before people realized what happened.