I would expect this to put a bit of downward pressure on.......

I would expect this to put a bit of downward pressure on.... Those holding options without the intention or funds to convert just had their time limit shortened by about 50% (assuming the deal goes thru)... there'll be a few people who need to lighten their options load in an illiquid market... keeping the oppies down will no doubt have a bit of flow on to the heads... If you want a position in GUJ or INR why would you buy them when there's sellers feeding you options at a discount... so it'll affect the buy side of both...

now why would that be in their interest I wonder? keep the heads trading at a discount to the scrip price to entice the voters perhaps?