Inasmuch as ARG is currently trading at about $62, investors obviously think APD will sweeten its bid. APD itself has stated a willingness to “add value to the deal” if ARG can demonstrate why value ought to be added but, so far, ARG has merely told APD to shove it.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”