Post by
4CommonSense on Jun 17, 2023 3:56pm
The bottom line - minimum $64/s
Glencore offered Teck US $22.5 Billion $C 64/s for 100% of Teck. It also stated it would create coal and metals entities similar to what Teck proposed, and Teck would be part owners of the new enties as well as the current Teck S/Hs. Teck turned down the offer!
When the fog and smoke clears around whatever Teck manages to 'crazy glue and chicken wire together in tems of Plan B - stuctures, etc.etc. - the current Teck S/Hs have to end up with a minimum - all parts of the new are factored into whatever new Plan B considered ---- value totalling at least C $64/s.
If not Teck,have failed and have lot of explaining to do to the current Teck S/Hs from a fiduciary perspective.
Specifically why has Teck's new Plan B in the best interests of the company AND the current S/Hs.
This would be a challenge and could easily end up in a class action by the existing S/Hs
Perhaps refusing Glencore's initial offer was simply a negoitiating ploy and Teck wants something more the C$64/s?
If not It will be very interesting to see what Plan B is and if it will be of equal or bigger benefit to the current S/Hs vs the Glencore offer
The current B share price is ~$55/s -- the S/Hs have effectively already lost $9/s