Teck Approached by Vale, Anglo American and Freeport, Globe Says

Teck Resources Ltd. was approached by Vale Ltd., Anglo American Plc and Freeport-McMoRan Inc. on potential deals, should the Canadian company carry out a planned split, The Globe and Mail reported, citing two unidentified people familiar with the discussions.

(Bloomberg) — Teck Resources Ltd. was approached by Vale Ltd., Anglo American Plc and Freeport-McMoRan Inc. on potential deals, should the Canadian company carry out a planned split, The Globe and Mail reported, citing two unidentified people familiar with the discussions.

Vancouver-based Teck, which has proposed spinning off its steelmaking coal business to focus on mining copper and zinc, is attempting to fend off a hostile $23.1 billion takeover from Switzerland’s Glencore Plc, which wants to buy Teck in its entirety.

The approaches from the three international mining companies are among expressions of interest from at least a half dozen major mining companies interested in transactions with Teck post-split, one of the unnamed people told The Globe.

Teck spokesperson Dale Steeves told the newspaper that the company doesn’t comment on market rumors or speculation. An Anglo American representative declined to comment to the media outlet, while Vale and Freeport-McMoRan didn’t immediately respond to the Globe’s request for comment.

The focus of the existing tussle between Glencore and Teck for now is an April 26 vote by Teck shareholders on the proposed breakup. Glencore is trying to muster enough investor support to block the plan while proposing a takeover that would lead to the creation of two new, separate entities, a metals-producing behemoth dubbed GlenTeck and a massive coal-mining group.

Glencore Digs in for Battle as Momentum Shifts Against Teck

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