I'd Cover....So I finally had to post...I would be very worried if i were short IT; very worried indeed. Have been a long term holder but have traded in and out since early days...Very, very familiar with online bingo, the overall industry; the various teams; old management; new management; and the real overall plan of creating shareholder value. Such an intriguing market play in terms of what is really going on at a business level versus how the SP has been manouvered down....hmmm...anyone involved in M&A knows that's how the chess board plays out - watch for the size of the premium - that's always the feel good percentage when it all gets sorted.
Longs will do well and will ultimately feel very good. Shorts have had their day and will loose all profits with very limited ability to cover. This will create an artificial cover premium above any deal premium so if you want to sell your shares - do it then when their stock lenders start screaming for them to cover.
Watch the strength come in on the buy side...should be a great few weeks. JRMJ