Glencore Ord Shs GLCNF

Metals & Mining Industrial Metals & Minerals

Glencore PLC is a Switzerland-based producer and marketer of natural resources. The Company produces and markets a diverse range of metals and minerals - such as copper, cobalt, zinc, nickel and ferroalloys - and markets aluminium/alumina and iron ore from third parties. The Company is a producer and marketer of coal, with mines in Australia, Africa and South America - and a marketer of crude oil, refined products and natural gas. The Company physically source commodities and products from its global supplier base - and sell them to customers all over the world, transporting commodities by sea, rail and truck, storing, processing, and delivering them. The Company is also involved in the recycling of copper and precious metals.

OTCPK:GLCNF - Post by User

Glencore Ord Shs

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Post by JasleenDhakaon Apr 04, 2023 2:34pm

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Post# 35379314

TECK REJECTS

Teck Resources has rejected a US$23B bid from Glencore.

Glencore’s offer reflects an EV/R of 2.1x, and an EV/EBITDA of 4.6x, which we note are in line with sector averages.

Fundamental Research's analysts think that Teck might have entertained the offer if Glencore had offered a premium.

Teck has stated that the offer is opportunistic, and added that the deal exposes its investors to geopolitical risks (due to Glencore’s presence in the DRC), and fossil fuels, such as coal and oil.

Read more on the teck news + mining news of the week + top performers in the mining sector (ALL FOR FREE) : https://www.researchfrc.com/aiw-april-03-2023/

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