This is clearly a proxy on the price of nickel. They have yet to make a quarter where they make the hay that they should have made given the price of nickel for the last 18 months. Cyclicals are in the midst of a cyclical correction.
Doesn't think there will be in it further offers on this. If you have an alternative investment you could go into, he would consider selling at this time, otherwise just hold.
Thinks the most likely thing to happen is that Teck Cominco (TCK.B-T) wins. You are now playing for the last little bit and if it is a large percentage of your portfolio, consider taking some profits.
If he owned, he would probably hang on until the outcome became clear and then he would get out and would not except shares from the acquiring company.
There may be a little bit more fight left in both bidders to push the price up but not sure it would be much of a gain. Would prefer going into a mid-sized company such as First Quantum (FM-T) or Anvil Mining (AVM-T).