Relypsa Inc (RLYP)

[Awesome A]

Like many on the board, I initially thought the buy out price was a little low (I was looking for $35 to $40 ps) but a 59% premium is nothing to sneeze at.

My question does not focus on another potential bidder but on the large short position that existed with this stock just before the buyout. Given the sudden increase in price, would this not create a short squeeze and potentially drive the price up in the short term, thus allowing those who expected a higher buy out price to sell their shares before the buyout is finalized? I guess my question is what happens to those people who had a short position - don't they have to cover before the buyout occurs?