. . . are often hugely beneficial to stockholder value. But commonly the stock price gets well above reasonable and fall backs down when the dust settles. Looking at current PE's of MW and JOSB (23X to 26X) this may end up being the case.
note the language of the news headlines: 'merger agreement' and 'potential combination'
These are 15X PE companies. It will take whopping synergies for this price to hold.