You make some good points, but there are always ways around regulations.
A deal could be made pending shareholder approval with a non-disclosure clause, stating that no information be released based on the above deal.

There are a lot of things that go on behind closed doors that aren't exactly on the level, but it's the way that business is done. You're right, that eventually, there will have to be an offer that is voted on, but that doesn't mean that copper fox and teck haven't made an arrangement in principle to be finalized based on shareholder approval.