Post by
4CommonSense on Jun 17, 2023 4:03pm
The bottom line - minimum $64/s
Glencore offered Teck US $22.5 Billion $C 64/s for 100% of Teck. Glencore 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, shares distributions etc.etc.) the current Teck S/Hs have to end up with a minimum (when all parts of the new Plan B are factored into whatever new Plan B) ---- value totalling at least C $64/s.
Specifically - why has Teck's new Plan B in the best interests of the company AND the current S/Hs.
If not Teck,have failed and have lot of explaining to do to the current Teck S/Hs from a fiduciary perspective.This would be a challenge and could easily end up in a class action by the existing S/Hs.
Perhaps refusing Glencores 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 - odd to say the least