Alternative proposal – Glencore has submitted a proposal to acquire Teck Resources’ steelmaking coal business (EVR) for cash. While Glencore still supports the Proposed Merger Demerger, the alternative EVR acquisition is expected to enable a value-accretive demerger of the combined coal and carbon steel materials business to Glencore shareholders. Glencore plans to demerge CoalCo approximately 12-24 months after closing the transaction, following sufficient deleveraging.
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