Microsoft buys @ $95 per share

I would like to hear some comments, as I found this interesting.

Microsoft seems very confident in this deal. They have already welcomed the team to Xbox socially and they posted on their company website the details of the deal.

FEB $85 Calls are selling very cheap. And Microsoft is buying for $95 a share. It seems low risk, with a $10 upside.
What am I missing?

Do options get canceled on buyouts like this?
Will the sale take a long time to complete?

Thanks for any advice.