this is incorrect. the price going up is a reflection of the market's believe about the % likelihood of a deal.
for example at market close of $45.08, the market is betting there is a $45.08/$54.20 = 83% chance that this transaction goes through.
there are certainly individual stockholders who are buying because they like his involvement, but that is tiny compared to people buying and selling a very near-term bet
for example at market close of $45.08, the market is betting there is a $45.08/$54.20 = 83% chance that this transaction goes through.
there are certainly individual stockholders who are buying because they like his involvement, but that is tiny compared to people buying and selling a very near-term bet