That's right, and I finally understand why the share price appears stagnent. The share price of CUU does not really matter as Teck will not be acquiring CUU shares. Teck will be buying the physical assets in the ground for a negotiated price using a mixture of cash and shares. CUU "should" then re-distribute these gains to the shareholders. So I do not think TECK will be placing a take over bid for CUU, they will simply offer a price for CUU assets.

This doesn't really make sense either. If you were expecting a one time dividend that gave you a yield in the 3 digit range...why wouldn't you want or try to buy more of that (increasing buying pressure) and driving the stock up? People love 5% yields, I'm sure 500% would be something people would like if they were expecting it.