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  5. TECK.A: Can you please give us your recommendations what will be minimum / maximum CDN dollar amount for Teck resource shares if someone gives offer. [Teck Resources Limited Class A Multiple Voting Shares]
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Q: Can you please give us your recommendations what will be minimum / maximum CDN dollar amount for Teck resource shares if someone gives offer. I just want to analyze if it is worth holding until offer comes or add more.

Thanks for the great service
Asked by Hector on April 27, 2023
5i Research Answer:

Note there is an offer on the table, but not a hard offer, from Glencore, at approx. $62.50 depending on the price of Glencore. We would consider this a floor for any actual done deal (though with no deal it can certainly drop lower). TECK.B wants more, and we have seen as high as $92 as the estimated value of the company for a highly motivated buyer. Thus, we might discount that a bit down to $80-ish, giving a range of $62 to $80 IF the company actually does get acquired. That is still a big IF, and the government might block any bid as well, if from a foreign entity. TECK is 9X earnings right now, and we certainly think it is worth more than that.

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