@feelmyring, I started getting bearish on valuation. Looks like it was right as the stock is down 5% at this point. I don't think Vivendi needs to revise the tender for the merger to go through (note ATVI shareholders have not voted on the merger yet). The price is definitely up on the merger development...what a high price may mean is that the market is expecting a higher tender. What this could imply is that Vivendi would be taking a smaller % share of the merged company, which would make sense as the overall market consensus had been that Vivendi was getting more than it should've.
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