Corporate M&A Strategy

Suppose you are a CEO of an organization with no bright growth prospects because of the declining curve of that particular industry. The reason for the declining curve can be any like macroeconomic factors, govt. policies, ESG, massive Technology change, etc. You can foresee the coming future.
For instance, the company has some great assets (intangible or tangible) that were valuable at one time and can generate revenue for the next few years, say 3 years on a declining basis. After 3 years, the value of the assets will NOT be ZERO but may generate some revenue based on some random requirements (more like a passive income). There are only a few players in the industry say 7-8.

What will you do to survive in the industry? Cannot shut the organization as there are assets still there which have some value even in the future. Cannot diversify or start a new product line as the company has expertise only in this technology and will take some more time to establish itself. However, cannot run the company with the same overheads for more than 3 years (though the overheads are at the minimum possible level).