Just because Total failed does not mean that another offer from another company will not emerge.
Investors also feel confident that this stock is worth far more and so does the company. They will surely try to work for a better deal. I would say around $3.

It cannot get worst than the price it is at right now. And even if it does the downside is limited. So what if it falls to

a dollar for now. Those who hold should hold it. I think that the end result will be good.