So today OK closed at $2.37 down $.02 while FR closed up $.45 at $20.47.

The implied value of OK is $2.46, a difference of $.11.

The arbitrage players are doing a great job of driving down OK...and making themselves $$$ when the deal closes in feb.

I agree that the strategy for retail investors is to hold their positions or sit and watch with dry powder until the deal closes and not give in to the temptation to sell to the arbitrage players. Who knows where they will drive the sp of either company prior to the Feb.

The last date to own OK to get to vote is Jan 18. For approval 67% of votes cast must be in favour. So don`t forget to vote. Only votes cast will count.The deal closes on Feb 26.

Yes in a favourable market the asset may have fetched a higher price, but who says we are in for a favourable market. It is clear that FR will increase production and likely the resources, in the coming years. if the price of silver also increases, the fr sp should do very well.

If the OK asset is worth more than this deal, then another company could be coming into play in January. However I suggest that there was already a bidding war behind the scenes and FR presented the best offer. There are not that many others out there that qualify as possible suitors.

SN