Teck is down more than 25% in less than 2 months. This could be a big plus if buyout discussions commence. The reason is that if EE has a set buyout price he may consider a lower price if offered Teck shares which about to reach a new 52 week low. For example his min. buyout price might be $1.2B. So EE may take $1.0B or less if there is a sharedeal in place. This provides more upside via Tck shares and he can do what he wants with them for tax implications.

Sure Teck would be diluting their shares, but their concern over losing their Debt rating would be less of a problem.