It depends. Do you have a gain or a loss? Do you want to realize (for tax purposes) that gain or loss in 2013 or 2014. Will waiting till Jan or Feb 2014 convert a short-term gain to a long-term gain? The next issue is the price - you can sell now and get 3.70 or so - if you wait a month or two you'll get $3.75. Risk - there's a slight probability the deal will fall apart and the price will drop back to around $3.00 (or maybe even lower). There's also a slight chance that another buyer will come along and offer more than $3.75. Unless there are tax reasons, I think that most shareholders will sell their shares now rather than wait.