I dont believe that Teck would need to be HALTED if there was a buy out, would they?
There could be a HALT for CUU to release BFS then Teck could announce a buyout while the market is closed. Or just announce the buyout after market close today.
The last time Teck had a NR stating they were HALTED was in OCT 2008, Fording deal:
| Teck and Fording Confirm Expected Closing Date of Arrangement and Announce Trading Halt and Settlement Details |
08-34-TC |
| October 23, 2008 / Download PDF |
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Vancouver, October 23, 2008 – Teck Cominco Limited (TSX: TCK.A and TCK.B, NYSE: TCK) and Fording Canadian Coal Trust (TSX: FDG.UN, NYSE: FDG) today announced that Fording and Teck have provided notice to the Toronto Stock Exchange and the New York Stock Exchange that closing of the previously announced arrangement involving the sale by Fording of all of its assets to Teck is expected to occur before 9:30 a.m. (Eastern Standard Time) on October 30, 2008.
As a result, the TSX has issued a bulletin confirming that mandatory special settlement rules will apply to the units of Fording trading on the TSX. In particular:
- All trades on October 27, 2008 will be for special two day settlement on October 29, 2008. These trades will be entered into the CDS system with a settlement date of October 29, 2008.
- All trades on October 28, 2008 will be for special cash settlement the following business day, October 29, 2008. These trades will be entered into the CDS system with a settlement date of October 29, 2008.
- All trades on October 29, 2008 will be for special cash same day settlement, October 29, 2008.
The NYSE has also issued a bulletin confirming that the NYSE will implement a trading halt of the Fording units for the three trading days immediately prior to the effective date of the arrangement such that there will be no trading in the units on the NYSE commencing on the opening of trading on October 27, 2008 and continuing through close of markets on October 29, 2008. Trades in the units made on the NYSE on October 24, 2008 will settle on October 29, 2008.
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