It seems Glencore is loath to give up its pursuit of Teck Resources' steelmaking coal business.
Glencore is loath to give up its pursuit of Teck Resources' steelmaking coal business.
Over the weekend, the Swiss commodities giant confirmed it had submitted an all cash offer to buy the unit off Teck, as the latter continues to evaluate its options for that division. While the offer price wasn't disclosed, one has to assume it's in the neighbourhood of Glencore's earlier US$8.2 billion offer for the asset, albeit in an all-share deal that was soundly rejected by both controlling shareholder Norman Keevil and his key ally Sumitomo out of Japan.
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