Adding to the last post, for Murdock to raise the bid from $12 to $14.50 per share for the 52M shares that he doesn't already own, only costs him an extra $130M ($2.5 x 52M), for a $1.5B deal. He wins and the arbs win. I expect to see the stock keep inching up over the next few days with additional arb buying.
Thyis is how it will play out. He will up the price to 12.50 and do the deal and then the lawsuits will start flowing in. We will get 10 cents a share or 5.2 million and the lawyers will get 45 million.