Let's say tomorrow morning we wake up with a partial or complete buyout, either Teck shares or we get money and everything is distributed as a dividend, what happens with all the outstanding warrants?

Would shareholders have time to exercice them?  If yes, would the money from these warrants be distributed to all shareholders?  Would they substract a certain amount for those shareholders and send them a smaller dividend or less shares?

Anyone ever experienced this?

MoneyK