If this stock is $18 by tomorrow noon, Schulze will have to come with at minimum 30% over the current price at that time to be even considered, so I doubt it will be bellow $21-$22 even as a low ball offer.
If offer is rejected, what is very possible, stock price will go above it, because longs will be sure there will be another offer at a higher level and that Schulze have a fully funded offer, which is not going away (at least before January).
Good luck if you are short. I would suggest you take immediate cover (even on a loss).
Sentiment: Strong Buy