Canadian copper miner Teck Resources Ltd has been approached by mining companies including Vale SA , Anglo American Plc and Freeport-McMoRan Inc to explore deals for its base metals business if a planned split of the company happens, sources close to the matter told Reuters on Sunday.
Freeport, Vale and Anglo American declined to comment.its $22.5 billion all-share takeover bid for Teck to include up to $8.2 billion in cash, but Teck's board called it "largely unchanged".
Teck has repeatedly rejected Glencore's offer of merging the companies and subsequently spinning off their combined thermal and steel-making coal businesses, saying it would expose shareholders to thermal coal, oil, LNG and related sectors. It has instead urged its investors to vote for a restructuring proposal which will see it spin off its highly polluting coal business and focus on production of copper.Influential proxy advisor Institutional Shareholder Services on Thursday advised shareholders to reject Teck's restructuring plan on uncertainties and structural issues.
Large investors often follow the recommendations of proxy advisory firms including ISS and its smaller rival Glass Lewis.Reporting by Lavanya Ahire in Bengaluru; Editing by Sandra Maler
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Teck approached by other companies while fending off Glencore offers -Globe and MailTeck Resources Ltd has been approached by a unit of Vale SA , Anglo American Plc and Freeport-McMoRan Inc to explore deals if a planned split of the company happens, The Globe and Mail reported on Sunday, citing two sources familiar with the discussions.
Read more »
Teck approached by other companies while fending off Glencore offers, Globe and Mail reportsTeck Resources Ltd has been approached by a unit of Vale SA , Anglo American Plc and Freeport-McMoRan Inc to explore deals if a planned split of the company happens, The Globe and Mail reported on Sunday, citing two sources familiar with the discussions.
Read more »
Glass Lewis recommends 'No' vote on Teck's coal business spinoff - Bloomberg NewsAdvisory firm Glass Lewis said Teck Resources Ltd shareholders should vote against Teck's plan to spin off its coal business, Bloomberg News reported on Saturday.
Read more »
Glass Lewis recommends 'No' vote on Teck's coal business spinoff, Bloomberg reportsAdvisory firm Glass Lewis said Teck Resources Ltd shareholders should vote against Teck's plan to spin off its coal business, Bloomberg News reported on Saturday.
Read more »
Big-Tech Lawyer Zachariah Adds Three Take-Privates to Goodwin’s BooksHi there, Kamaron Leach and Liana Baker here in New York today chatting with one of Goodwin’s top tech lawyers after his string of marquee deals. Elsewhere, a Teck shareholder could scuttle its breakup plans while the NFL’s Commanders finds a new buyer. Today's top stories
Read more »
At the L’Amours Pop-Up, French-Girl Style Meets Heavy MetalLaunched a little over two years ago, L’Amours gathers all of Grupski-Estevez’s experience into small, seasonal collections that are made in New York. See all the details on the L’Amours pop-up here:
Read more »