Investor Letko Brosseau to vote in favor of Teck's separation plan

TORONTO, April 20 (Reuters) - Teck Resources investor Letko Brosseau said on Thursday that it intends to vote in favor of the Canadian miner's plan to create two separate companies, and that Glencore's unsolicited takeover bid for Teck is not "attractive."

Letko Brosseau does not find the offer put up by Glencore attractive, Peter Letko, founding partner of the Montreal based investment firm, told Reuters. It "would prefer a competitive bidding for Teck assets post the split," he said.

Brosseau owns 3.7 million shares, or 0.7%, of Teck's shares outstanding.

(Reporting by Divya Rajagopal in Toronto, writing by Ismail Shakil; Editing by Chizu Nomiyama)

Reuters

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Investor Letko Brosseau to vote in favor of Teck's separation plan