Glencore has told Teck Resources shareholders it is willing to improve its US$22.5 billion takeover offer. Read more
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In an open letter on Wednesday, Glencore said it would consider taking the offer to Teck’s shareholders directly if the board failed to engage.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300A welcome email is on its way.
The bid is the latest in a mounting wave of mining industry buyout offers fuelled by growing demand for copper and other metals critical to the green energy transition. Glencore Chief Executive Gary Nagle flew to Canada to meet shareholders last Thursday after revising its unsolicited bid to include up to US$8.2 billion in cash.
Teck’s board rejected it as too low, adding it would unnecessarily expose shareholders to a large thermal coal business and an unwanted oil trading unit.
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Teck's controlling shareholder says he's open to future deals — just not Glencore'sNorman Keevil said for the first time he would support the sale of Teck, but only after it completes coal business spinoff plan. Read on.
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Teck's controlling shareholder says he's open to future deals — just not Glencore'sNorman Keevil said for the first time he would support the sale of Teck, but only after it completes coal business spinoff plan. Read on.
اقرأ أكثر »