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

Teck depends on steelmaking coal

A month later, Glencore said it wanted to take over Teck and undergo its own separation. Glencore, which posted revenue of about US$250 billion last year compared to Teck’s US$13 billion, produces an array of commodities including, gold, copper, cobalt, zinc, nickel, oil and coal. Glencore’s plan differs from Teck’s in that the two new companies would not depend on the other for revenue.Article content

that shareholder vote just hours before it was scheduled to take place since it didn’t expect the separation to be approved by two-thirds of its shareholders, the necessary threshold needed for the plan to go through.to prevent such a deal from taking place in a bid to ensure that Teck’s copper continues to be owned by a Canadian company.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom 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 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 »

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 »