I think it will now come down to how many shares they can get...

I think it will now come down to how many shares they can get off short term traders. If they make it to 90% then they will compulsorily acquire the remaining shares likely at the same price (minus the dividend so under $22). If enough people refuse to sell then they will most likely raise their offer. My guess is the funds were tipped off months ago to start accumulating below $17 to get a guaranteed quick 30% return when the offer comes in. We shall see but they will need to raise their offer or acquire my shares as I'm not selling until it's closer to fair value