A little bit of math can show you if the public is optimistic or pessimistic about the deal closing
Investors feel that the odds of the deal closing are much improved. The spread between Sprint’s current stock price ($7.01) and the theoretical value of each Sprint share if the merger takes place ($7.68) has dropped to 67 cents from the $1.15 it was at last Tuesday. The narrower the spread, the more optimistic investors are about the deal closing. You can easily compute this yourself by taking T-Mobile’s stock price (TMUS) and multiplying by .10256. That is how many T-Mobile shares each Sprint holder will receive if the merger goes through. Take that figure and subtract from it Sprint’s current stock price (S) to compute the spread.