I think for two reasons....1) the 20% RMS stake is a large...

I think for two reasons....
1) the 20% RMS stake is a large impediment to another company having a crack especially considering arguably no other company can harness the synergies that RMS has. RMS is SPR's natural home in the event of a takeover.
2) RMS is generating an enormous amount of free cash that the market is recognising with an upward re-rating of its equity. SPR is in a temporary lull with news flow. Every quarter RMS piles on the cash and its equity gets a higher premium means the differential between the two companies market capitalisations diverges further which enables RMS to potentially reduce the amount of its equity it will have to offer SPR's holders in script. I'm certain as I can be it's coming. RMS is biding it's time but I think it's coming soon...before SPR starts churning out drill core results in volume.