I don't think the market had a "negative" reaction to the deal at all - IF I read the headlines correct most thought it was a rather impressive little deal.
"Some" IGR/SLR holders may have needed to come around to seeing it making sense from both angles ( I remember the posts "not enough' here and "too much" there !)
The current "minor" discount applied to IGR appears logical at this juncture: SLR will carry on in the unlikely event of IGR pulling out of this merger. IGR stands to loose unless another partner can be found.
As pointed out by various posters on both threads:
The much more likely scenario might be a move on the combined entity - not either party right now.
Applied risk metrics as far as I can see.
I still hold both !
SLR Price at posting:
$2.87 Sentiment: Hold Disclosure: Held