"It is more likely that right now we are in sort of a "dead zone" between the announcement of the merger and when it is actually consummated. Nobody is totally sure exactly what the new company will look like. Add to this that the company has been extremely tight lipped about any new business dealings and you have a climate that is not exactly conducive to new buyers (especially institutions) taking a position."
Where are the shorts? Why aren't they buying? If the price is inappropriately high, why aren't they trying to get it down? We are in a dead zone but it is certainly unexpected with 2.5 mil shares shorted by presumably now desperate owners.
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