The Globe and Mail reports in its Saturday edition that following an embarrassing withdrawal of a restructuring proposal because of slim shareholder support, Teck's chief executive officer Jonathan Price at the miner's annual meeting said the company was going to embark on another restructuring effort. The Globe's Niall McGee takes a look at the background to how Glencore wound up winning the bid for Teck's coal business. Behind the scenes, negotiations between the two continued with Glencore still pushing for its proposed buyout of all of Teck. Already one aspect of the dynamic between Teck and Glencore had shifted remarkably, however. Before Teck's failed split vote attempt, Teck and Glencore both conducted themselves like trash-talking, chest-puffing heavyweights before a championship bout. As much as Glencore pushed to get Teck to consider a buyout of the entire company, Teck would not back down. Over time, Glencore realized that while not the ideal outcome, getting the coal alone was still a very good second prize. In a presentation to investors in May, Gary Nagle gave the first indication that Glencore might settle for buying Teck's coal assets. In June, the company acknowledged that in a formal statement.