Teck 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
With a little more than two weeks before the vote, Teck and Glencore each have a tight deadline to win over investors. Teck’s separation requires two-thirds support from both categories of “supervoting” and regular shares, meaning that shareholders with just a small percentage of the total voting rights could have the power to scupper the plan and throw its future into question.
“The choice is clear: either vote for a separation that creates two companies with a broad spectrum of opportunities to maximize value, or vote to maintain the status quo,” Price said on Monday’s call. Price reiterated that Glencore’s proposal would give shareholders exposure to thermal coal and oil trading. He called the larger company an “unsuitable acquirer” because of the risks involved in its business.In times of uncertainty you need journalism you can trust. For 14 free days, you can have access to a world of in-depth analyses, investigative journalism, top opinions and a range of features. Journalism strengthens democracy. Invest in the future today.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cape Town urged to continue water-saving amidst ongoing shortagesResidents of Cape Town are being urged to continue their efforts in saving water, as the Western Cape faces ongoing water shortages. The latest figures reveal that as of 4 April 2023, the dam levels in Cape Town were at 59%:
Read more »
Nigeria: Benue Killings - Buhari Calls for End to 'Extreme Violence'Benue Killings - Buhari Calls for End to 'Extreme Violence' PremiumTimesng: Nigeria
Read more »
WCED urges parents to apply for grades 1 and 8 placements as 14 April deadline looms | News24The Western Cape government has urged parents and guardians to submit placement applications for Grade 1, Grade 8 and transfer applications for pupils before the deadline this week.
Read more »
Archbishop urges Ramaphosa to be transparent during Easter MessageDuring an Easter vigil at St. George's Cathedral in Cape Town, Anglican Archbishop Thabo Makgoba urged President Cyril Ramaphosa to come clean and be open about the theft at his Phala Phala farm in Limpopo.
Read more »
Phala Phala: Archbishop Thabo Makgoba uses Easter message to urge Ramaphosa to come clean | News24Anglican Archbishop Thabo Makgoba has urged President Cyril Ramaphosa to open up about the theft of money from his Phala Phala farm, and simultaneously encouraged the youth to become 'angelic troublemakera' pursuing a new struggle for transformation.
Read more »
Don't delay. Apply today says WCED ahead of 2024 school yearParents and guardians have been urged by the WCED to hand in placement applications for Grades 1 and 8, as well as transfer applications for the 2024 school year, before the incoming deadline.
Read more »