Zinc giant Teck Cominco ( TCK) will acquire all the assets of Fording Canadian Coal Trust ( FDG) in a cash and stock deal. The transaction is estimated to be worth $13.9 billion, of which $12.4 billion will be in cash. The assets being acquired include royalties from Fording's 60% interest in the Elk Valley Coal Partnership. Elk Valley operates six mines in Alberta and British Columbia that produce high-quality hard coking coal. "Fording unit holders are receiving a significant premium to the Fording unit price during a time when comparable coal companies have declined substantially from their highs," said Teck's CEO Don Lindsay, in a prepared press statement. "For Teck, the transaction is expected to be immediately and strongly accretive to both earnings and cash flow." Shares of Teck were rallying more than 3% in recent market action. Fording was up 7%.