Glencore is now proposing a deal that would give Teck investors 24% of the combined metals-focused business the same split as its previous offer plus $8.2 billion in cash.
Teck has rejected the proposal, but Glencore indicated on Monday it is doubling down on the idea and seeking discussions with the other company’s management.
The globe is in the grips of a climate crisis as temperatures soar and rivers run dry, and yet it’s never been a better time to make money by digging up coal. The energy-market shockwaves from Russia’s invasion of Ukraine mean the world is only getting more dependent on the most-polluting fuel. And as demand expands and prices surge to all-time highs, that means blockbuster