In a statement, the Vancouver-based miner said it also doesn't believe the new proposal addresses the 'material risks' raised by Teck on April 3 when it rejected Glencore's first takeover offer
VANCOUVER — Canadian mining company Teck Resources Ltd. said Tuesday it will carefully review a modified hostile takeover offer put forward by Swiss company Glencore, but added it doesn't believe the new proposal increases the overall value of the proposed deal for Teck shareholders.
Earlier in the day, Glencore announced it is modifying its hostile takeover offer for Teck Resources Ltd. to include an US$8.2-billion cash component to its proposal. Glencore said Tuesday it acknowledges that certain Teck investors may prefer a full coal exit and others may not desire thermal coal exposure.
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