I still look at the share price behaviours of these two stocks in the last several days as
selling NOT, even at a loss to aquire FWR shares, once enough are in hand procedure returns to normal ( that means less selling pressure of NOT and less buying of FWR) so I expect NOT to move closer to $2 and FWR to low $0.40s. Then as some already said, pump up NOT through news or what ever else so that lagging FWR (mostly retailers) holders consider it worthwhile to tender their shares.
I do not think that NOT is kept low to keep FWR shares low because it is not working, by that I mean four FWR share value rose above one NOt share, so why persist on a strategy that is not working. I do not think it a coincidence that many days after the offer, NOT shares started a downward trend while FWR's started the reverse. Further hint, today the reverse transpires, both switching in tandem, so that is a tell tale sign.

Note I said mostly retailers because I think institutionals do not need much convincing,
they will gamble on the combined company appreciatin a lot more than either of the two
alone. That would more than make up for any price discrepancy during the time of merge.
Once the two are combined then perhaps the NOT/FWR repeat with another offer for someone else, OR I'm even more in favour of a mid-tier or 'biggie' offering to aquire the combined company.