Teck Resources is having none of Glencore’s R410bn merger talk; can CEO Gary Nagle make it see the light?
The odds are stacked against Glencore’s all-share merger bid for Teck Resources, mainly because the family trust of the Canadian group’s former CEO and chair, Norman Keevil, is against it. The Keevil family have super-voting class A shares, which, despite comprising just 1% of total shares in issue, veto subordinate class B shares.
“Now is not the time to explore a transaction of this nature,” Keevil said in an April 3 statement, supporting Teck’s formal rejection of Glencore’s merger offer. In doing so, Teck is stating a preference for a previously announced demerger of its coal assets into Elk Valley Resources...
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.
'No path to a deal with Glencore.' Canada's Teck fights back | BusinessTeck 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
Read more »
Plastic pollution is scourge of English coastal regionOn an early spring afternoon, Tregantle Beach is bathed in a dazzling light reminiscent of a painting by British landscape artist JMW Turner as sea, sky and sun merge.
Read more »
WATCH | N3 comes to a standstill following massive pile-up, five dead | Witness🔊A multi-vehicle pile-up has brought the N3 northbound near Hilton to a standstill. Ncalane said this accident involved five trucks, eight minibus taxis and twenty-two light motor vehicles.🚙🚌🚗
Read more »
41 vehicles were involved in N3 crash, with five fatalitiesThose who still need to locate their family members can call the emergency contact centre number on 033 940 8484.
Read more »
Hilton Town Hall made available for stranded motorists after N3 horror crashA multi-vehicle accident and pileup involving five trucks, eight minibus taxis and 22 light motor vehicles saw the closure of the N3 in Pietermaritzburg on Monday.
Read more »
Three dead in head-on collision between car and truck in KZN | News24Three people have died after the light motor vehicle they were travelling in overturned and collided with an oncoming truck on the N2 Highway in KwaZulu-Natal in the early hours on Sunday. | Lisaleesolomon1
Read more »