Glencore PLC to Discuss Proposed Merger with Teck Resources Ltd and Simultaneous Demerger of Combined Coal Business Call Transcript
Good afternoon to all of those joining or good morning or late good night, those who are in Australia. Thank you for joining. I know it's a very short notice. I appreciate that you've all canceled your agenda, those who have and are able to join us for this call. I'm joined also by Steve, our CFO to be able to tackle any questions you guys may have.
You would have also seen on our website, we've posted a presentation, a short slide presentation, which I'll take you through. I hope you all have that in front of you. And without further ado, we'll just kick off straight into that presentation. What we're here today to present is a very compelling proposal for Glencore shareholders and importantly, for Teck shareholders. It's compelling in both the financial sense and it's compelling with regard to nonfinancial issues for this very interesting merger between our 2 companies. So what we're proposing to -- what we proposed to the Teck board is a merger of Glencore with Teck and a subsequent demerger of our coal business, Teck's coal business and our
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