Teck had for weeks defended its plan to separate its copper and coal businesses as a better option for shareholders, but could not convince the majority of them. Glencore said on Thursday its takeover bid for Teck Resources still stands. Glencore declined to comment on PM's remark, while Teck did not immediately respond to a Reuters request for comment. (Reporting by Arunima Kumar in Bengaluru; Editing by Arun Koyyur)
(Glencore comment)
April 28 (Reuters) - Any takeover bid for Canadian miner
Teck Resources Ltd will have to get through a
"rigorous process" to win government approval, Canadian Prime
Minister Justin Trudeau said in an interview to Bloomberg
Television on Friday.
The prime minister's comments comes after Teck withdrew its
plan to split into two earlier this week ahead of a shareholder
vote on it, as the miner tries to fend off $22.5 billion
takeover attempt from Glencore Plc .
Trudeau said if the government is asked to approve a deal,
it will be consistent in applying Canada's takeover rules "so
investors can know what they're getting into".
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