@threemonkeys meant to reply to your post.... If Tyro accepts an offer of 1.8, the share value will likely be close to but not exactly 1.8, and there will be a time value component until settlement. For example, if the share is at 1.75, the time value would be 0.05 (2.9%) per share.
Buyers taking the risk of the deal not going through would be rewarded with a 2.9% return. The decision to sell or hold depends on one's perceived value of Tyro - if they believe it's worth more than 1.8, they would not sell, as one may even be happy if the deal doesnt go through.
However, if a higher offer, such as 3, is received and the share is at 2.9, that's a different scenario.
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