When the deal was announced it valued BRB at 40c a share when...

When the deal was announced it valued BRB at 40c a share when RMS is $1.13 a share. Since then BRB is up 15% (46c) and RMS is up 18% to $1.34. So BRB is ‘lagging’ compared to RMS, which says the market still sees a ‘slight’ risk the TO won’t be successful. But it is definitely not currently pricing in a higher bid coming for BRB.
As a shareholder in both companies I plan to take up the offer as I believe both parties benefit from the consolidation and I think the offer is reasonable.