From Breakingviews - Glencore’s Teck coal approach sends two signals
is slightly confusing. Back in April the $22 billion Canadian miner rejected the $68 billion Swiss commodity giant’s merger offer, which planned to split the resulting entity into a separately listed coal company and a standalone metals company. While that approach still stands, Glencore on MondayIn some ways, the move doesn’t change the status quo. Teck’s coal arm is expected to make $2.
Instead, boss Gary Nagle’s strategy may have two prongs. One is to try to encourage Teck’s board to engage in discussions, given the coal arm has already received interest from
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