The approaches from more than six mining companies interested in transactions if Teck spins off its coal business come as the Vancouver-based miner is fending off an unsolicited takeover offer from Glencore Plc.
On Sunday, former chairman Norman Keevil, whose family controls Teck through its dominant ownership of the company’s ‘A’ class of shares, said Glencore’s proposal was “the wrong one, as well as at the wrong time” and the split should go ahead.
The ‘A’ class shares in Teck have much more voting power than the ‘B’ class shares held by institutions.
“There are numerous mining industry parties who have their eyes on Teck and would be interested in partnering or investing in Teck Metals after it separates its base metals and steelmaking coal businesses,” Keevil said in a statement.
He said he would support any kind of transaction, an operating partnership, merger, acquisition, or sale but with the right partner and on the right…
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