Ann: STX: Strike to acquire Talon, page-114

As others have pointed out, some are selling their STX to buy TPD. The relative shareprices are equilibrating to eliminate the arbitrage opportunities.
Ideally, STX would've held at 44 cents and TPD moved up to reflect the takeover price.
The prices of STX and TPD are essentially anchored to each other now. What happens to the STX shareprice doesn't really matter (in terms of this merger) until when it's time to vote, as the board has unanimously endorsed the deal. No amount of screaming will change this fact.
Hopefully by the end of the year STX's price will be above 50 cents and, hopefully, closer to 60 cents. Because that's when TPD shareholders will need to make their decision. The rest is short-term noise.