TSX:TECK.A - Post by User
Post by
4CommonSenseon Jul 27, 2023 2:40pm
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Post# 35560131
It never ends --blah blah blah
It never ends --blah blah blah (Bloomberg) -- Teck said it is still evaluating offers for its steelmaking coal operations as it works to fend off a takeover by Glencore Plc. (no one really understands why at C$64/s)
"We’re not sitting on our hands,” CEO Price said Thursday (agree -they are sitting on their azzs) We are working on this very actively right now and we’re engaged with multiple counterparties.” Blah blah blah
More than five months have passed since Teck announced plans (and failed) to separate its coal business and become a standalone base metals producer. (yes and anything like a Plan B is 8-12 months away)
"There is pressure to design a plan that can trump a proposal that shareholders rejected in April, as well as Glencore’s $23 billion takeover proposal for the entire company." (Good Luck on this - not a hope in hell and Teck knows it )
The logic of even trying eludes me