Break Down.
If ELD share price holds means today ELD TO values us at 8.42 X .122= 1.027
If we get permitting by July 09 we get an extra 8.42 X .008= 6.7 pennies
Really thought management would be holding out for more than .067 especially since there are no guarantees that that ELD S/P will not fall prior to the deal being finalized.