JP Morgan is one of the book-runners on the deal, so it figures they would try to keep the stock price up until the offer closes. They have not been successful so far. I think it gets repriced now. This kinda sucks.
J.P. Morgan and BofA Merrill Lynch are serving as joint book-running managers for the Common Shares Offering, and J.P. Morgan, BofA Merrill Lynch and Citigroup are serving as joint book-running managers for the Mandatory Convertible Preferred Shares Offering.