TSX:TECK.A - Post by User
Post by
templetooth2on Nov 14, 2023 3:12am
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Post# 35733585
Elk Valley sale
Elk Valley saleIf I read this right, Teck gets US$6.9 Billion from Glencore, US$1.3 Billion from NSC for a total of $8.2 Billion less tax of $750 million, so $7.45 B or just over Cdn $10 Billion. Plus about $1 Billion cash flow until the deal closes next Q3.
If there are 520 million shares out, that's about $19.33 per share plus about $2.60 (both Cdn $) cash flow until closing. (Exch. rate 1.35)
I had seen guesstimates of as high as $13 Billion, but that was pre taxes, pension and enviro liabilities. I think $10 Billion net in a clean deal is OK. Maybe not spectacular, but very OK. Market might disagree - as I wriite, Glencore is up 3% or more in early UK trading. So maybe the market thinks Glencore got a deal.