The merger price is set at one share of HCBK will be 0.08403 shares of MTB. So right not MTB is trading at $116.85, puts HCBK at $9.81. But HCBk is only trading at $9.37, over 4% below the $9.81 price. If the deal doesn't happen, I would only guess the price of HCBK would most likely fall. The problem with HCBK is the board of directors, and #$%$ hermace, haven't done a damn thing in years to build shareholder value. Look at the 5yr chart of HCBK, and compare to MTB, or the DOW, we have not done a damn think in FIVE YEARS! Since January 2009, the DOW is up 40%, yet in the same time HCBK is down 50%. They have done nothing but continue to slash our dividends, and lose shareholder value. Without the buyout were lost, we need either the buyout or Hermace gone! Without one of those two things, were dead!