Vincor - Holding Out

Vincor is doing diligence for the shareholders, hanging on for a deal. Last Jan, it hit a high of $36.78 CDN, and latest news is that they are close to a deal with Constellation. Is $40 too much? I thought Constellation would have paid a premium, since they want it bad enough. The current deal of a max of $35 expires 8 Dec. See what happens after that.