Glencore-Teck Merger Proposal Faces Skepticism ...Middle East

Via AG Metal Miner On April 3, multinational commodity trader and mining group Glencore announced its proposal for a merger with Canada’s Teck Resources. Estimates say the metal manufacturing merger could potentially create $4.25-5.25 billion of post-tax synergy value. However, Vancouver-headquartered Teck announced its rejection of the offer on the same day. “The board of directors of Teck has received and unanimously rejected an unsolicited and opportunistic acquisition proposal from Glencore,” the response read. “(the…

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