What's with this preposterous premarket? Why isn't everyone selling on this news?!
Say you're a pessimist and expect an $18 bid .. which is .. really pessimistic. That's 18% return in 30 days + closing time .. merger arb funds love this kind of situation. And so should you (if you're long). If you're short then .. well .. it's one hell of a risky bet you've got on.