BSC trading at >$3?

Quote from HotTip:

Why wouldn't people be shorting this stock like crazy (IB appears to have shares available)? I don't understand why it would be trading so far above the $2 that JPM is buying it for.

Any thoughts?
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Subject to shareholder approval. They can shop the company.

I (as well as others) assign a 25 delta that they find a much better deal. Hence, BSC trading above $2.

nitro
 
Quote from Daal:

this deal is set to be close in june, shareholders by law need to approve this
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A pundit on CNBC just said the same thing. Apparently BSC is using this window to shop itself around for a better deal. Unfortunately I don't think the fed will guarantee the assets unless the buyer is a big capitalized IB.
 
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