That day, the shares went from $21.80 to $29.45, or about 35.1%. I won't look at the option prices today (12/7) as they will not be an accurate reflection of gains:
A great thing about the form GCC filed included the risks to the Merger that is (mostly) common in these sorts of transactions, quoted below that I've edited for form:
Consummation of the Merger is subject to the satisfaction or waiver of specified closing conditions, including
- (i) the adoption of the Merger Agreement by the holders of a majority of the outstanding Shares entitled to vote on such matter at a meeting of the holders of Shares duly called and held for such purpose,
- (ii) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976,
- (iii) the adoption of a decision by the European Commission pursuant to Regulation (EC) 139/2004 of the European Union declaring that the Merger is compatible with the internal market;
- (iv) the approval by certain other requisite governmental regulators and authorities;
- (v) [this one removed as specific to GCC], and
- (vi) other customary closing conditions, including
- (a) the absence of any law or order prohibiting the Merger or the other transactions contemplated by the Merger Agreement,
- (b) the accuracy of each party’s representations and warranties (subject to customary materiality qualifiers) and
- (c) each party’s performance of its obligations and covenants contained in the Merger Agreement.