All cash is ideal. Teck will likely trade lower as most from CUU will be selling to get into cash, followed by traders and those from Teck who will at first thought (most likely) think that Teck overpaid.

Wouldn't mind getting a carve-out/spin-co for Arizona - depends on the share structure, if EE is still financing, how big a position he and other insiders have etc. There's too much we don't know yet to really know.

Woudn't keep as large a position in it however.