In a statement, the Vancouver-based miner said he also doesn’t think the new proposal addresses “significant risks,” which Teck raised on April 3 when he rejected Glencore’s original takeover bid.

“Teck will update shareholders as soon as possible of the board’s decision on the revised proposal,” the company said Tuesday.

Glencore amended its unsolicited bid for Teck Resources early Tuesday by adding an $8.2 billion cash component.

As part of the revised offer, Teck shareholders would receive 24% of the combined metallurgical operations of the two companies, as well as the cash.

Glencore’s original proposal was an all-stock deal and would have seen Glencore acquire Teck and then spin off the two companies’ metals business and parts of Glencore’s marketing business into a single company. The coal activities of the two companies and other related assets would have formed a separate entity.

Glencore on Tuesday acknowledged that some Teck investors may prefer exiting the coal sector entirely and others may not want exposure to thermal coal.

“As a result, we are prepared to introduce a cash element to complement the proposed transaction to repurchase your shareholders’ coal exposure,” Glencore chief executive Gary Nagle wrote in a letter to Teck’s board of directors.

Teck had turned down Glencore’s original unsolicited offer in favor of his own plan, announced in February, to split its metallurgy and coal businesses into two separate companies.

Teck argued that his plan would give shareholders more choice and opportunities to maximize value since they would own stakes in both Teck Metals and the new coal company Elk Valley Resources.

Teck is controlled by the Keevil family, who, along with Japanese company Sumitomo, own the company’s Class A stock.

Norman B. Keevil, chairman emeritus of Teck, told the Daily globe and mail that he had no interest in seeing Teck sold to Glencore.