My guess is there is concern the 10% condition may be activated and the whole thing will fall through.
The market have hit WES because the deal is so huge and there is concern that WES can manage to not just turn around CGJ but adjust to its new shareholder base.
Those nerves multiply on the CGJ price as the consequences of a pull-out of the deal on CGJ are dire.
Just my thoughts
CGJ Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held