I agree. Deals like that are brokered all the time. As an example, I used to own a company called Antares, which was bought by first quantum. I received FM shares in exchange for the buyout. FM is about half the market cap of teck, but it's usually pretty straightforward, and this isn't teck's first rodeo.
I think it's a more likely scenario then teck raising cash in exchange for cuu. As long as the value of the property is proven, I'm sure teck shareholders would approve - that may be what we're all waiting for right now. Teck shareholders aren't likely to support a multi-billion dollar purchase until they have hard numbers to back up their decision.