Send ROFO and let the bidding war begin!

I don't see how ROFO could turn into a bidding war. If TECK accepts it, then the deal is done, regardless if Glencore or other major  would be willing to pay more. I don't see TECK declining ROFO, as long as it is in fair value territory.

However, if someone would make an offer for the whole copper fox metals, then that could easily turn into a bidding war in current environment.