Legacy Reserves LP Arb Play

I picked up some Legacy Reserves LP (Ticker: LGCY) at $13.01 per share. This company received a “Going Private” proposal from Apollo Management for $14 per share. The company is evaluating the proposal and will make a recommendation in 2 – 4 months. Apollo Management is acquiring this company on the cheap and there’s a possibility that they will increase the bid. This company is paying out a dividend of $0.52 /share each quarter ($2.08 per year). If the deal takes awhile to close, there's also a likely hood of a dividend payout. I see minimal downside in this arb play.