Agreed with you on all points.
The only way I see this as going higher is if a new name comes forward.
My hope for such an event lies in the fact no comment has been made with respect the valuation exercise.
As you stated 21 or 22 cents is likely tops otherwise.
The merger vote is going to be just as tight as the 50.1 vote. Cliffs will be working hard to shake out a few more shares this week.
JMHO
A