The Teck share price has dropped about $ 4 since the year end results were released on Feb 7. That's helpful in case we end up with an offer based on Teck shares using a 20 day VWAP. One analyst reported the following on Feb 12:

Despite better-than-expected fourth-quarter results, Canaccord Genuity analyst Orest Wowkodaw cut his target on Teck Resources Ltd. because of "disappointing" 2013 operating guidance for coal and copper production. The continuing weakness in seaborne coking coal is likely to persist until mid-2013, he said.

Downside: Mr. Wowkodaw, who maintained his "hold" rating, lowered his target by $4 a share to $35.

It doesn't look like the Teck share value will increase anytime soon and copper production will be down this year. The CUU share price would rise to the equivalent cash value of the share offer so we would be faced with a decision to cash out or roll over. I prefer a well priced cash offer and hope CUU does as well.