You will have no problems liquidating your shares after an announcement of a takeover. There will be lots of liquidity up until the closing date of the transaction.

My advice, if you don't want the TCK shares or just need your money out right away, sell the instant (or shortly after) the halt is lifted. In looking at other takeovers, the highest price at any point prior to closing is generally right after the announcement. See QMI, NXY, PXP (could see a higher bid), MMR, etc.

Further to that, as TCK has the option agreement and first right of refusal, I would guess that there would be no competing offers from other companies.