Teck Resources Ltd. has rejected a takeover offer from Glencore PLC, as miners compete for high\u002Ddemand metals like copper. Read more
from its Quebrada Blanca 2 project in Chile, its largest project in terms of construction which is expected to double its copper production in the near future.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
We encountered an issue signing you up. Please try againoffered 7.78 Glencore shares for each Teck Class B subordinate voting share and 12.73 Glencore shares for each Teck Class A common share. The offer represents a 20 per cent premium for both classes, making it worth about US$23.2 billion at Friday’s closing prices, according to Bloomberg calculations., Teck said that it currently does not intend to sell.
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