- Teck Resources is conducting discussions with multiple parties interested in its steelmaking coal business
- Glencore is among the potential suitors, following its failed takeover of Teck in April 2023
- Teck is a global leader in mining and development focused on copper, zinc and steelmaking coal
- Teck Resources (TSX:TECK.A) last traded at $57.18 per share
Teck Resources is conducting discussions with multiple parties interested in its steelmaking coal business.
Teck’s board of directors and independent special committee are evaluating all actionable, value-accretive proposals with the best interests of shareholders and stakeholders in mind.
The company confirms that it is engaging with Glencore around one such proposal, which is preliminary in detail, conditional and non-binding. Glencore is willing to acquire the steelmaking coal assets in an all-cash transaction.
The news follows the Swiss company’s failed takeover attempt in April 2023.
Teck’s management views the numerous proposals as a testament to the value of its high-margin, long-life steelmaking coal business.
The company assures that the winning proposal, if any, will enable sustainable operations in the Elk Valley for employees, local communities and Indigenous peoples.
Teck Resources is a global leader in mining and development focused on copper, zinc and steelmaking coal.
Teck Resources (TSX:TECK.A) last traded at $57.18 per share.
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