Glencore sweetens offer for coal-averse Teck shareholders with R151bn in cash | Business

Mining giant Glencore said on Tuesday it has amended its offer to shareholders of Canadian miner Teck in order to allow for them to take as much as $8.2 billion in cash - instead of shares in a new-coal focused entity.

The board of Teck had publicly rebuffed Glencore's $23 billion merger offer in early April. The offer represents about a 20% premium for shareholders., while it has said previously that accepting the deal would expose shareholders to a number of risks, including thermal coal, oil trading, as well as a company operating in multiple legal jurisdictions.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

'No path to a deal with Glencore.' Canada's Teck fights back | BusinessTeck Resources urged investors to support its plan for splitting its metals and coal businesses while reiterating opposition to a R426 billion takeover proposal from Glencore. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »

Sibanye not interested in bidding as Newmont makes final R360bn play for Newcrest Mining | BusinessNewmont Corporation laid down a best and final offer for Australia's Newcrest Mining Ltd on Tuesday at A$29.4 billion (R360 billion) to close a deal that would extend Newmont's lead as the world's biggest gold producer. | News24_Business
Source: News24 - 🏆 4. / 80 Read more »