Some kind of a deal will get done, maybe not for the whole firm, but a patent portfolio or something, or IDCC would be paying some fancy fees to EVR and the other bank for their efforts. Imagine how the IDCC stockholders would howl for a big fee bill on a no deal outcome. Hello slate of new directors for the next election.
This is already one of the most heavily shorted stocks. End of last month there was 8 million short. There can't be too many available for new short positions. We might see some covering as we see the stock price recovering toward previous highs. At current volumes it would take at least a week of buying to cover that many shorts.
There is still a lot of naked shorting, so the shorts won't necessarily have to find shares to borrow in order to short. But, for those who obey the unenforced law, that may be why the MMs are trying to shake current holders out to facilitate more shorting.
Why anyone would want to short a stock with this much short-term potential is a mystery to me, but I'm often surprised and not always pleasantly.