Furthermore,

Teck offered $14 billion USD for Fording Coal and had to go to their shareholders for approval after the economy collapsed and the market was wiped out. They had to get financing for something like $9.8 billion dollars, and it was amazing that they even got financing according to Don Lindsay who said he had quite a few sleepless nights. They suspended dividends, cut spending by firing 13% of their workers, and sold assets. Eventually they had to sell a 17% stake in Teck to the China Investment Corporation or face bankruptcy.

The board and shareholders approved that deal!