My concern is Teck presenting a low offer before other majors can get a shot at a counter-offer.

Nowara, although you didn't say it, I'm guessing your concern is more towards CUU accepting a low offer rather than just Teck presenting it. IMHO, Teck presenting a low offer that's rejected by EE would provide the fun that Web is craving.

A low offer from Teck that's deemed offensive by the E Team and Teck could easily find themselves partnered with a fierce rival holding many valuable cards. I can't see them going anywhere near that path.

So I would think a "low" offer would have to be at least the present value plus a premium. That should drive the SP up to at or near the offer.

I would think the media coverage would go up a notch or two as well. And during that coverage ES would have to explain why the offer wasn't good enough for the shareholders (EE). He'd do that with the info we've all been waiting for.

Sign me up. That would be fun indeed. Cheers and Good Luck.