Glencore offers to buy Teck's coal business as takeover battle takes a turn

Calgary Herald Headline NewsEmail AddressBy 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. If you don't see it, please check your junk folder.We encountered an issue signing you up.

Glencore said its proposal to only acquire Teck’s coal assets does not mean it has dropped the idea to, something it has been attempting to do since April. Teck has rejected the Swiss miner twice so far. If Glencore ends up buying Teck’s coal assets, it will eventually create a separate company that would include both Teck and Glencore’s thermal and steelmaking coal assets.

At a mining conference in May Glencore’s chief executive Gary Nagle said buying Teck’s coal business alone would be a “distant second in terms of potential benefits” as compared to buying the whole company.and create Teck Metals, a standalone company that would focus on copper and other minerals considered key for the energy transition away from fossil fuels, and Elk Valley Resources Ltd., which would focus on coal.

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 considers Glencore offer for just the coal business in latest twist to mining sagaGlencore has proposed buying Teck Resources’s coal business as an alternative to its $23 billion takeover bid that was rejected. Read more
Source: financialpost - 🏆 7. / 85 Read more »

Glencore makes offer for the steelmaking coal business of Teck Resources - BNN BloombergSwiss company Glencore says it has made an offer to buy the steelmaking coal business of Teck Resources.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Glencore makes offer for the steelmaking coal business of Teck ResourcesSwiss company Glencore it has made an offer to buy the steelmaking coal business of Teck Resources Ltd.
Source: CTVNews - 🏆 1. / 99 Read more »

Glencore indicates willingness to bid for Teck Resources’ coal businessTeck Resources’ substantial coal assets have been valued at US$8.2-billion
Source: globeandmail - 🏆 5. / 92 Read more »

Glencore offers to buy Teck's coal business as takeover battle takes a turnSwiss miner Glencore is in talks with Teck Resources to buy the Canadian miner’s coal assets, both companies said. Read more
Source: nationalpost - 🏆 10. / 80 Read more »