News Formal

Teck approached by other companies while fending off Glencore offers, Globe and Mail reports

  • 📰 Reuters
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Teck 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.

that would involve combining and spinning off the thermal and steelmaking coal businesses of both companies.

The Swiss mining company has offered Teck shareholders 24% of the combined metals group and up to $8.2 billion in cash for those who may not want exposure to thermal coal. Two proxy shareholder advisory firms have recommended that Teck Resources shareholders vote against the planned split.Teck's restructuring plan. On Saturday, Bloomberg News reported that Glass Lewis also asked Teck Resources shareholders to vote against Teck's plan to spin off its coal business.

Teck has received expressions of interest from at least half a dozen major mining companies, who are interested in various transactions post-split, the Globe and Mail added.Reporting by Lavanya Ahire in Bengaluru; Editing by Sandra Maler

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
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:

 /  🏆 2. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria 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 »

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 »