After a high volume modest drop in the morning OK drifted up and ended at the day's high. Maybe people disappointed with OK and FR price drop since December bailed out with the gap up. The market seems to think there is more upside.
Can't see FR letting this go without a counter offer. The CDE offer is well below what most of us feel OK is worth. Next bid, if it comes, would be at least $3ish. I'm riding this further as it seems there is now much higher likelihood of move up than move down.