Rwinger:
"My understanding is that if you tender your shares, you get whatever the price is at the close of the deal."

My understanding is that you do not get any price, there is no price involved in the offer.
This is a merger not a buyout.
It is an exchange of shares - One NOT for four FWRs, irrespective of what the prices of those shares will be at any time.
Where the dilema starts is whether one should
1. tender them for exchange,
2. not tender,
3. or sell FWR shares and buy NOT.

It is in the selling of FWR shares and buying NOT shares that the price of the shares comes into play. Tax repercusions may apply in the selling/buying case and definitely broker fees..