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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
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Teck Resources Limited (NYSE: TECK) Submits Proxy Circular, Supporting Documents for 2023 Meeting

Teck Resources Limited (NYSE: TECK) inches up in early session on Tuesday as the company announces that the management proxy circular and supporting documents for its annual and extraordinary shareholder meeting scheduled for April 26, 2023 have been submitted. Teck is asking for approval from shareholders at the Meeting, among other things, for the previously announced reorganization of Teck’s business to split Teck into two independent, publicly-traded companies: Teck Metals Corp. and Elk Valley Resources Ltd., as well as the previously announced proposal to introduce a six-year sunset for the multiple voting rights attached to the Class A common shares of Teck. All of these are outlined in the Circular.

CEO of firm Jonathan Price stated that Teck has obtained the necessary governmental clearances to move forward with our proposed split and establish two top-tier businesses dedicated to supplying the key resources the world needs in an ethical manner. The two companies’ planned separation is in the best interests of Teck and all of its stakeholders because it will give investors a clear choice between a leading copper growth company and a pure-play, high margin coal company that makes steel. It will also open up more opportunities to increase value for shareholders in the future.

According to Sheila Murray, Teck’s chair of the board, “This transaction is the outcome of a thorough evaluation done by our Board and is the greatest road ahead to fulfilling Teck’s full potential.” This division “positions both firms for even greater success, allows shareholders to optimize their exposure to the various underlying commodities, and optimizes long-term value without restricting future optionality.”

Moreover, Teck disclosed today that the Separation and the Dual Class Amendment have been granted interim orders by the Supreme Court of British Columbia. The Separation and the Dual Class Amendment Meeting may be called and held in accordance with the Interim Orders. The circular has copies of the interim orders attached.

The Teck Board of Directors urges shareholders to approve both the Separation and the Dual Class Amendment.

If both the Separation and the Dual Class Amendment are passed, the Dual Class Amendment is anticipated to take place before the implementation of the Separation. The Separation and the Dual Class Amendment are not dependent upon one another.

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Virgin Orbit (NASDAQ: VORB) Plans to Use Chapter 11 Procedure To Increase Value For Its Company

Shares of Virgin Orbit Holdings Inc. (NASDAQ: VORB) persist its gain in pre trading session as jumps over 50% in previous session as the company's U.S. subsidiaries, a capable supplier of space launches, declared that it has started a...

Broadcom Inc. (NASDAQ:AVGO) Soars After Britain Will Probe Its Acquisition of VMware (NYSE:VMW)

Broadcom Inc. (NASDAQ: AVGO) surges over 1.2% in pre trading session on Wednesday as the Britain declared it will thoroughly look into Broadcom's acquisition of VMware, Inc. (NYSE: VMW) after the US chipmaker made no quick commitments in response...

Equinor ASA (NYSE:EQNR) Begins First Tranche of Around $1B of 2023

Equinor ASA (NYSE:EQNR) surges over 6.52% to $31.19 in pre session on Wednesday as the firm announced in the Capital Market Update on February 8, 2023, the firm will begin the first tranche of around USD 1 billion of...

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