Glencore publicly announced its first bid for Teck Resources Ltd. shareholders in early April, and updated the offer just over a week later. Glencore says its latest offer still stands, which includes an $8.2 billion cash offer to shareholders, as well as a 24 per cent stake in a metals company that would be formed if the bid was successful. In a news release, Teck criticized Glencore's proposal by noting it carries risks of substantial tax impacts, and execution risks requiring extensive regulatory approvals that would not close for up to two years, if ever.