"What they worry is what happens if a big buyer comes in and buys a big chunk of CUU? A vulture capitalist or shareholder activist or someone that has interests in what Schaft Creek produces. They can delay the whole buyout if they wanted to."

I don't understand this. Unless EE were to private sale to someone, it is impossible for anyone to buy a big enough chunk to slow down any buyout. Basically if EE accepts a price it is approved by majority and will go through (obviously EE could stop a buyout, but that's why Teck tries to make him/Elmer happy). So nothing like that can actually happen, of course CUU could sell its interest, but that is a different thing.