It seems these acquisitions are a disaster for Freeport shareholders. If you think TC's management is bad and not shareholder friendly, a quick look at Freeport put things back in perspective. We should celebrate the fact that we are almost ready to start mining copper and gold on Mount Milligan, instead of being stuck with a deep well in the Golf of Mexico that's been bleeding money for ages and might end up being a total bust.
It may sound silly, but TC wasn't bought out because its share price is too low. If TC had been at $7 or $8, then it may have been bought out for $14 or $15.
Until TC's share price rebounds, it isn't going to be bought out, simply because no company is going to pay more than 2x the share price for a company, or they will tick off their own shareholders. Similarily, if TC board of directors sold off this company for $6.30 right now there would also be an uproar, because it would be so far below book value.
No need to sell off anything anyways, TC is in a good position.