Inside the S-4 they say the pro rating will be adjusting the cash/share formula based on what is available to people after they choose either cash or shares. They also say the payout if any will not effect the offer price. In the case of KMI/KMP which I know very well from participation... it was people wanting shares and having to settle for a fraction of cash because of election leaning toward shares more than available. Here it will be exactly opposite I believe. People will be forced to take the WNR shares at a paltry level x .2986 as the deal details. So that is likely to also effect volume on the day they announce the completion of the deal. I won't wait for that traffic jam and be trampled by lemmings, lol. Lots can happen in the meantime. I will get a chance to vote no to the deal just for the fun of it, then follow my earlier explanation of tax implication selling. Market had a dead cat bounce today! GLTA!
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