MoM,

Just like in Blackjack, a savvy player always does certain things when they get certain cards. And, when there is a takeover/offering for a company, a savvy shareholder always does certain things to benefit themselves from the situation.

And that is... Sell when the sp gets close enough to the takeover/offering bid that satisfies you. That is pretty much the most you might make anyway, and without waiting for the deal to close.

If the takeover/offering fails, the sp will tumble and, if you like, can buy back in. If the takeover/offering is successful, in this case you would not have three shares of something it sounds like you do not want, but instead will have cold hard cash to use as you please.

It's Trading 101.