From my experience the price will usually jump to just a buck or so under the offered price. Then the volatility and volume will practically vanish. There it will sit until further news.
Google would be smart to hold their first offer a little low, knowing full well a competitor will bump their bid for the reason I initially laid out. I look for the initial bid around 4.5B. Apple will then up it to 5.2 Google then offers 5.9 and the deal goes down.
Nope, If there is offer, lets say 100, this thing will trade at 105 because it will support the fact the offer is too low. It will continue to trade aboce asking price. Now if they offer $150 i say it trades right there.