RE: Squeaky bum time for shorts! Funding or Takeover! Bring on either!5 Jul 2024 16:36
Canada's federal government has cleared the way for Glencore's $6.9 billion acquisition of Teck Resources Limited's steelmaking coal business.
Industry Minister Francois-Philippe Champagne approved the Glencore transaction of the British Columbia-based business, Elk Valley Resources, late Thursday after sources told Bloomberg the announcement was imminent. It marks a new era for Teck -- one that will see it focus on metals for the energy transition like copper.