off-the-wire

Glencore says takeover bid for Teck Resources still stands

Kitco Media
By Reuters
Published:
Updated:
Reuters

April 27 (Reuters) - Glencore Plc said on Thursday its takeover bid for Teck Resources Ltd still stands and it was willing to engage with the board of the Canadian miner to improve its proposal structure.

Teck on Wednesday withdrew its plan to split in two, a surprise development just ahead of a key shareholder vote, as it sought to fend off a $22.5 billion takeover attempt by the Swiss commodities giant. (Reporting by Radhika Anilkumar in Bengaluru; Editing by Rashmi Aich)

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