this is just a theory!!

Glencore has made a hostile bid for Teck. Teck doesn't like this as it doesn't fit their strategy (they say). They can refuse the 1st bid, the 2nd bid but more bids will come and if Glencore is refused, Freeman or Anglo American will make an offer. If you really don't want to be taken over, you have to look at how you can make yourself less attractive to take over. Teck and Newmont have the intention (so is said) of merging Galore and SC. 50% of Galore is now owned by Newmont, if Newmont also buys 50% of SC, this will make a takeover of Teck (metals) less interesting. The takeover party has to share everything for both Galore and SC and cooperate with Newmont and this is not really attractive and extra complex in the case of a hostile takeover of Teck. For future takeover parties, this may be an extra barrier or a showstopper. So what would I do as  Teck? By the 25%SC of CF accelerate the split of SC as much as possible and ensure that the project Galore/SC is owned by 2 parties and divided equally 50/50. Or, if I were Newmont, I'd accelerate 50% in SC and buy EH from CF to be well represented in BC. But as mentioned; these are theories.