nuttal probably hangs inthis is not a new strategy. very common in these circumstances. There are hedgefunds that specialize in merger arbitrage.
Personally, i think it is the private equity fund that owns ROCC. Who knows, really.
Anyway, EXACT same shite happened to TVE on their deal last year. Lots of ppl saying it was going to zero blah, blah, blah. It is just fine 6 mths later although still some manipulation with deal stock overhang, currently.
Nuttal stuck with TVE through the process because he knows the strategy. he says it cost him performance in 2 half of year but he held.
So, it may be that he stays with BTE through same shite. It isn't easy to buy and sell 10% holdings willy nilly. Especialyy if expectation is for successful conclusion of irritant in couple months.
do your own dd