Freeport, Vale and Anglo American declined to comment.its $22.5 billion all-share takeover bid for Teck to include up to $8.2 billion in cash, but Teck's board called it "largely unchanged".
Teck has repeatedly rejected Glencore's offer of merging the companies and subsequently spinning off their combined thermal and steel-making coal businesses, saying it would expose shareholders to thermal coal, oil, LNG and related sectors. It has instead urged its investors to vote for a restructuring proposal which will see it spin off its highly polluting coal business and focus on production of copper.Influential proxy advisor Institutional Shareholder Services on Thursday advised shareholders to reject Teck's restructuring plan on uncertainties and structural issues.
Large investors often follow the recommendations of proxy advisory firms including ISS and its smaller rival Glass Lewis.Reporting by Lavanya Ahire in Bengaluru; Editing by Sandra Maler
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Teck approached by other companies while fending off Glencore offers -Globe and MailTeck Resources Ltd has been approached by a unit of Vale SA , Anglo American Plc and Freeport-McMoRan Inc to explore deals if a planned split of the company happens, The Globe and Mail reported on Sunday, citing two sources familiar with the discussions. What is teck
Source: Reuters - 🏆 2. / 97 Read more »
Teck approached by other companies while fending off Glencore offers, Globe and Mail reportsTeck Resources Ltd has been approached by a unit of Vale SA , Anglo American Plc and Freeport-McMoRan Inc to explore deals if a planned split of the company happens, The Globe and Mail reported on Sunday, citing two sources familiar with the discussions.
Source: Reuters - 🏆 2. / 97 Read more »
Glass Lewis recommends 'No' vote on Teck's coal business spinoff - Bloomberg NewsAdvisory firm Glass Lewis said Teck Resources Ltd shareholders should vote against Teck's plan to spin off its coal business, Bloomberg News reported on Saturday.
Source: Reuters - 🏆 2. / 97 Read more »
Glass Lewis recommends 'No' vote on Teck's coal business spinoff, Bloomberg reportsAdvisory firm Glass Lewis said Teck Resources Ltd shareholders should vote against Teck's plan to spin off its coal business, Bloomberg News reported on Saturday.
Source: Reuters - 🏆 2. / 97 Read more »