After being announced, a deal takes a couple weeks before closing anyway, so you could get a deal Dec 2012 and sell right away (the sp would reach the offer price) or you could wait and go into 2013 to trigger your taxes.

But if you want to keep your CUU2 shares (in the event), you must wait for the deal to close.

We're Nov 23rd today, under 30 days left to Dec 20th and all should be said and done.

Maybe Teck will start buying shares on the open market between now and then.