22:01:56 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Teck Resources Ltd
Symbol TECK
Shares Issued 512,365,875
Close 2023-06-06 C$ 57.28
Market Cap C$ 29,348,317,320
Recent Sedar Documents

Globe says Teck fielding calls about coal business

2023-06-07 07:26 ET - In the News

The Globe and Mail reports in its Wednesday edition that Teck Resources is fielding expressions of interest from parties potentially interested in mergers-and-acquisitions transactions concerning its metallurgical coal business following its botched restructuring plan earlier this year. The Globe's Niall McGee writes that in April, Teck did not move forward on a planned split of the business that would have seen it spin off its coal division from its metals mines, after it failed to win sufficient support from shareholders. On Tuesday, Teck said in a statement it will consider and evaluate "all actionable, value-accretive proposals received relating to its steelmaking coal business to determine whether they are in the best interests of Teck's shareholders and other stakeholders." Teck did not say which parties had expressed interest in the coal business, and there was no mention of the two known interested suitors, a consortium led by Canadian mining veteran Pierre Lassonde, and Swiss mining and trading house Glencore PLC. Glencore earlier in the year tabled a proposal worth $22.5-billion (U.S.), but the board rebuffed its advances as value-destructive. So far, Glencore has not taken its offer directly to shareholders.

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