The reason for the big jump in share price is that the battle...

The reason for the big jump in share price is that the battle for control of Cephalon is over.

Teva came in and trumped the Valeant bid and valeant has withdrawn so the uncertainty over Cephalons bid for CXS has now been significantly reduced.

It should be smooth sailing from here, but unfortunately there is unlikely to be a last minute higher bid emerging for CXS. 70 cents would seem to be as good as it's going to get.