The potential value here is hugeOH still hasn't closed the gap between their share price, and the value of CL shares. Right now, the difference between the OH price (6.65) and the shares in CL (10.84 x 0.8428) is $2.49. That's a $2.49 premium for every OH share. 37.8% as it stands now.
Worth taking a chance, eh? Especially after today's news, which indicates they are expecting the deal to go through.