Teck Resources Ltd. says it has received an unspecified number of"indications of interest" for potential deals on a spinoff of its coal assets as it seeks alternatives to the unsolicited takeover bid being pushed by Glencore.
Vancouver-based Teck's original plan to do so was disrupted when Swiss commodities giant Glencore swooped in with an alternative plan in early April. The offer, which was later sweetened to add more of a cash component, would see shareholders receive a stake in a combined metals company, as well as a choice of cash or shares in a company that would hold their merged coal assets.
"Teck’s Board will appropriately consider and evaluate any proposal that can unlock the tremendous potential of Teck’s premium businesses," said board chair Sheila Murray in a statement. The company is keen to expand its copper and zinc production to meet growing global demand for these metals, both of which are used in the production of electric vehicles and are considered to be key resources for the coming energy transition.
Teck chairman emeritus Norman Keevil has said Glencore's proposal is the wrong one, at the wrong time, but that he is open to talking about other possible deals once the company completes its own plan to split its business.
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:
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.
Teck Resources considering multiple options for coal business - BNN BloombergTeck Resources Ltd. has confirmed Tuesday it is in talks with multiple parties about selling its steelmaking coal business, after cancelling a shareholder vote to separate its metals and coal business this spring.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Teck reviewing multiple offers for its coal business, company saysTeck Resources Ltd. said it is evaluating multiple expressions of interest in its steelmaking coal business. Find out more.
Source: financialpost - 🏆 7. / 85 Read more »
Teck in talks with multiple parties regarding its coal business, company saysTeck Resources Ltd. said it is evaluating multiple expressions of interest in its steelmaking coal business. Find out more.
Source: nationalpost - 🏆 10. / 80 Read more »
Teck in talks with multiple parties regarding its coal business, company saysTeck Resources Ltd. said it is evaluating multiple expressions of interest in its steelmaking coal business. Find out more.
Source: VancouverSun - 🏆 49. / 61 Read more »
Teck fielding expressions of interest for coal business, as Canadian miner considers new restructuring planThe comments follow Teck’s decision in April not to move forward with a planned split of the business that would have seen the coal division spun off
Source: globeandmail - 🏆 5. / 92 Read more »
Teck Receives Interest in Coal Business as Glencore Circles(Bloomberg) -- Teck Resources Ltd. received several proposals for deals involving its coal operations, as the Canadian miner works to draw up a new plan for splitting off the business while rejecting a bid from Glencore Plc.Most Read from BloombergUkraine Dam Blast Blamed on Russia Tips War Into New PhasePGA Tour Bows to Saudi Rival in Shock Combination With LIV GolfSEC’s Coinbase Lawsuit Heralds Deepening US Crypto CrackdownApple Headset Looks Sleek in Person But Battery Pack Stands OutA Wall S
Source: YahooFinanceCA - 🏆 47. / 63 Read more »