dhuey

I agree, since the stock price now is mostly a function of the odds that the $17 deal goes through. It's also a function of investors' guesses on how far the stock would drop if the deal were to fail. April puts at $12.50 are currently trading for $1.05, which suggests a view that the price would fall to $10 or so.

The minor role the stock price might still play is that TPG/NWA might think that the stock price provides some useful information on how much they're overpaying for Midwest.