The spread is wide because there is no borrow on VNR, so professional arbs can't put the trade on. The VNR short can't be put on via a synthetic short with options either, because the premiums are out of whack (probably because there is no borrow),
Despite what some clueless folks are blathering here, this deal can't be arbed without VNR downside risk.
The vote is 3/26. You should have received a proxy in the mail. Make sure to vote yes. If you have not received these materials in the mail, call the company. If the vote is successful, and the merger closes, the money should be in accounts within a few business days.