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Swiss agency gives hostile bid to purchase BC’s Teck sources


Swiss agency makes hostile bid to purchase BC’s Teck Assets

Glencore provides US$8.2 billion money element to Teck Assets takeover supply

Swiss firm Glencore has amended its hostile takeover bid for Teck Assets Ltd. to incorporate a US$8.2 billion money element within the supply.

Beneath the amended proposal, Teck shareholders will obtain 24% of the mixed metals firm plus money.

The corporate’s preliminary proposal is for Glencore to amass Tech, break up the metals divisions of each firms into one firm, together with a few of Glencore’s advertising and marketing companies, and break up the mixed coal and different associated belongings right into a separate firm. It was a inventory supply. firm.

Glencore stated the amended proposal would successfully purchase out Teck shareholders from their publicity to coal.

It acknowledges that some Teck traders might desire an entire coal exit, whereas others might not need thermal coal publicity.

Teck rejected Glencore’s preliminary unilateral takeover supply in favor of its personal plan to separate its metals and coal companies into two firms, introduced in February.

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Swiss agency gives hostile bid to purchase BC’s Teck sources

Source link Swiss agency gives hostile bid to purchase BC’s Teck sources

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