Glencore\u0027s bid for Teck raises an existential question: can Canada lead a global mining boom without any prominent global miners? Read more.
Glencore’s pursuit of Teck makes them wary.
Enter Glencore, which has a market cap that is more than twice the size of Teck’s $33-billion valuation. Earlier this month, the company proposed an all-stock merger that would leave Teck’s shareholders with a nice payoff, but only a 24 per cent stake in the combined entity. When that pitch was rejected, Glencore followed with a revised offer that Teck’s board also turned down. But Glencore chief executive Gary Nagle is undeterred.
Still, key federal ministers, including Natural Resources Minister Jonathan Wilkinson and Industry Minister François-Philippe Champagne, have repeatedly pointed out how geopolitical shifts and climate change have altered societal and economic priorities over the past couple of years, and signalled their intention to draft policies that will make Canada’s mining industry a foundation of the economy.
“There’s not too many opportunities like Teck that come around,” said Boyd. “So that’s one of the reasons it’s coveted.”
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Opinion: If Teck Resources is sold to Glencore, Canada’s loss will go beyond miningTeck Resources has received multiple offers from a foreign buyer, Swiss mining giant Glencore
Lire la suite »
Teck-Glencore saga has Canada's mining executives bemoaning parade of foreign takeoversGlencore\u0027s bid for Teck raises an existential question: can Canada lead a global mining boom without any prominent global miners? Read more.
Lire la suite »
Teck-Glencore saga has Canada's mining executives bemoaning parade of foreign takeoversGlencore\u0027s bid for Teck raises an existential question: can Canada lead a global mining boom without any prominent global miners? Read more.
Lire la suite »
Glencore raises pressure on Teck Resources with promise of sweeter bidGlencore has told Teck Resources shareholders it is willing to improve its US$22.5 billion takeover offer. Read more
Lire la suite »
Glencore open to improving Teck offer, but shareholders must reject plan to split - BNN BloombergGlencore says it is willing to consider making improvements to its offer to acquire Teck Resources, but the Swiss company says shareholders of the Canadian miner must first reject a plan to separate its base metals and steelmaking coal businesses.
Lire la suite »
The Daily Chase: Glencore's pursuit of Teck continues; Metro beats Q2 profit expectations - BNN BloombergGlencore is turning up the temperature in its ongoing pursuit of Teck Resources.
Lire la suite »