News Formal

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

  • 📰 News24
  • ⏱ Reading Time:
  • 25 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 80%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

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 (R151 billion) in cash - instead of shares in a new-coal focused entity. | News24_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.

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:

 /  🏆 4. in ZA
 

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

South Africa South Africa Latest News, South Africa South Africa 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 »