LazyDoDo OP Smalltimeplayer : That special payout would only (and may not even) be paid after the deal collapses which could be in months. Furthermore, if the deal collapses, the stock would plunge immediately.
There may be ST gains, but LT, without a new buyout offer beating  $Cleveland-Cliffs (CLF.US)$  $35 offer, this stock has nowhere to go but back to its $20+ trading range it traded at before both offers. I mean we’ve all heard $United States Steel (X.US)$ whining about the investments they need to replace blast furnaces for months now.
The only realistic way up for this stock is to win their court cases after months of litigation, go back to CFIUS for a new, months long review, win that verdict, survive a new ban from Trump, sue the Trump administration, go back to the courts for another months long suit, win that case, then somehow continue with the buyout in a renewed period of trade tensions between the US and Japan where Trump will most likely drag out his approval as leverage to “cut a deal”.
Best case scenario, an unlikely possibility with a years long takeover process with >60% upside. Worst case, a liability with >20% downside. This is a playground for volatility loving day traders. The stock can be either bought or sold, but not held.
With that said, everything above is entirely my point of view. Any investor should do their own research on how long past court rulings on similar cases in the past took, gauge their own risk appetite given the timeframe, how they expect the Trump administration to operate alongside other relevant factors before trading this stock.