Glencore's bid for Teck illuminates market pressures cutting against energy transition
The Teck-Glencore clash represents a contrast in strategies for confronting the energy transition.
“There’s this theoretical notion of the future and an energy transition,” said Bruce Lourie, president of the Ivey Foundation, a private charitable group dedicated to supporting Canada’s transition to a net-zero future. “Then there’s the present and in the present you can make a lot of money” from fossil fuels, he said.
Price has said this is necessary because the energy transition has changed the investment landscape. Teck used to receive a premium because it produced a diverse array of commodities, but “in recent years, the investor basis for base metals and steelmaking coal businesses have become increasingly divergent,” Price said on Feb. 23.
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Glencore will likely sweeten US$23B Teck bid, analysts say - BNN BloombergGlencore Plc will likely sweeten its US$23 billion proposal for Teck Resources Ltd., according to mining analysts, positing that a deal could still happen despite the company’s rejection.
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Opinion: Glencore’s pitch puts Teck’s future in doubtSwiss company’s CEO Gary Nagle evidently hopes Canada’s corporate history will repeat itself
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Glencore's bid for Teck illuminates market pressures cutting against energy transitionThe Teck\u002DGlencore clash represents a contrast in strategies for confronting the energy transition. Find out more.
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Glencore's bid for Teck illuminates market pressures cutting against energy transitionThe Teck\u002DGlencore clash represents a contrast in strategies for confronting the energy transition. Find out more.
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Teck Resources is said to be open to offers once coal spinoff is completeTeck rejected a $23\u002Dbillion proposal from Glencore but is said to be open to offers after it finishes its coal spinoff. Find out more.
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