why bid so high, page-2

1. If you want something, bid as high as possible to deter other potential bidders.
2. If there is no deal = SP bounces back because there is no change in company fundamentals.
3. If a deal = a larger table to accommodate more guests, restorable impact on the short-term balance sheet quality while very positive for company growth in the long run.

I assume some whale has been swallowing cheap SLR shares while actively short the SP; I will not be surprised to see the SP surge when the dust settles.