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Tag: JSW Steel

JSW Steel’s Ambitious Bid for Teck Resources’ Steelmaking Coal Business

JSW Steel’s Ambitious Bid for Teck Resources’ Steelmaking Coal Business

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JSW Steel Pursues Teck Resources' Coal Venture: JSW Steel aims for a 75% stake in Teck Resources' Elk Valley Resources, potentially valuing the coal business at $8 billion, challenging Glencore's bid. JSW Steel considers a 75% interest in Teck's coal business In an unexpected twist, Indian conglomerate JSW Steel Ltd (JSTL.NS) is reportedly eyeing a substantial 75% stake in Teck Resources' (TECKb.TO) coal business, Elk Valley Resources. While earlier speculations pointed towards a potential 20% acquisition, this heightened interest could propel the valuation of the venture to an impressive $8 billion, as indicated by sources at Bloomberg. This move sets the stage for a high-stakes clash, as it squares off against a prior bid by Swiss heavyweight Glencore (GLEN.L) for the same vent...