a gimme and nobody biting

On account that the takeover by TMR is all but a certainty, why is IBR trading at a 20% dicount to TMR? I really think the market is asleep as to ythe sze of this company upon merger. I also think the market is asleep as to the value of TMR on its own. TMR should probably be trading in the mid 30c mark now and IBR should be approaching the 90c mark. That said I am happy to buy IBR at a premium to TMR and continue to accumulate. The combined entity should be worth in excess of $2 in a short 18 months or so.