RE:When Buyout happens if you look at the last 3 or 4 buyouts that happened. It is the standard Practice.
A buyout has to be annoucned, and then voted on by the Shareholders. so there will always be a time delay between when a buyout is annoucned and when the vote can happen.
it is true the "vote" is a rubber stamp as over 50% of the shares are held by people and their imideate family sitting at the negotiating table. but the process still has to happen.
The reason the SP will jump on annoucnemt, is that there will be people who say 95% of my possible earnings is enough. Say 5$ is the buyout price. many will say hey 4$, 4.75$ is enough for me, for many that would be an 11X return in a short time. VERY good return,
Some buyers will be like hey i can make guaranteed money, why not. if someone buys at $4.50 they make 10% return with no risk in a month or 2. agian a GREAT investment.