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Breakingviews - Glencore's Teck coal approach sends two signals

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Breakingviews - Glencore's Teck coal approach sends two signals

At first sight, the latest Teck Resources chess move by Glencore is slightly confusing. Back in April the $22 billion Canadian miner rejected the $68 billion Swiss commodity giant's merger offer, which planned to split the resulting entity into a separately listed coal company and a standalone metals company. While that approach still stands, Glencore on Monday said it has now also submitted a cash offer to buy only Teck's coal unit.

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Breakingviews - Glencore's Teck coal approach sends two signals

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Breakingviews - Glencore's Teck coal approach sends two signals

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