Glencore Returns to Acquisitions With Offer for Teck Resources
The Canadian miner has rejected an unsolicited takeover offer from the Swiss-based company.
Glencore PLC's $23 billion offer for Canadian miner Teck Resources Ltd. marks the Swiss-based commodities company's return back to big deal making. This could create a copper giant that can capitalise on the rush.
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Teck turned down the offer Monday. It would have been one of the most significant mining deals in many years. The family that owns a third of Glencore's voting shares also said they won't support Glencore's deal.