Glencore willing to improve Teck takeover proposal as deal falters

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On Friday, Glencore, which has previously tweaked its proposal for Teck, said it’s willing to improve the offer. Moneyweb

Mining giant Glencore has said it is willing to better its proposal in its takeover bid for Teck Resources after the Canadian company quashed plans to split its coal and metal businesses this week. On Wednesday, Teck withdrew its separation proposal hours before shareholders were scheduled to vote on it. Read all our coverage of the deal here. Glencore, which has previously tweaked its proposal for Teck, on Friday said it’s willing to improve the offer.

“Glencore’s proposal provides Teck shareholders with a clean separation for its coal business while also creating significant additional value for Teck’s shareholders in which they would fully and disproportionately share,” Glencore said.

 

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