two words: merger arbitrage rocc = $40
7.5 Bte = 3.78 USD * 7.5 = 28.10 USD
28.1 + 13.31 =41.4 USD.
so, they are being equated by arb.
This is the deal stock being shorted.
No respite until July closing or rejection of deal.
This arb parity will remain both can move up or down with oil. but 7.5 BTE + 13 cash is the equity point.
Personally hope deal dies ...just payoff the debt for fock sake and buy all the stock until $30.