Sunday, August 24, 2025

Latest

Teck Resources is Still Assessing Offers From Potential Buyers Amid Hostile Takeover Bid From Glencore

Teck Resources Ltd. (TSX: TECK.B) is still actively evaluating various offers for its steelmaking coal business as it aims to shift focus to becoming a standalone base metals producer. The move comes amidst the company’s ongoing efforts to stave off a takeover from Glencore Plc.

Swiss commodities behemoth Glencore presented a $25-billion hostile takeover bid earlier this spring, which Teck’s board initially rejected. The tension grew when Teck called off a shareholder vote on its plan to spin off the coal operations, having faced opposition from Glencore and a lack of required support. Since then, Glencore has come up with a new proposal to acquire Teck’s steelmaking segment for an undisclosed sum while also remaining open to acquiring the entire company.

CEO Jonathan Price assured that the company is exploring a number of structures with various interested parties, which include Glencore, Canadian mining financier Pierre Lassonde, and India’s JSW Steel Ltd., the latter considering up to a 20% stake. “We’re not sitting on our hands,” he said during the company’s earning’s call last week. “We are working on this very actively right now and we’re engaged with multiple counterparties.”

The past quarter also marked a drop in profits for Teck, from $1.8 billion to $643 million, reflecting falling global copper prices. Revenue for the quarter declined to $3.5 billion from $5.3 billion a year ago, along with an adjusted profit falling from $3.25 to $1.22 per diluted share.

Teck Resources last traded at $58.72 on the TSX.

Information for this briefing was found via Tech Resources and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

G Mining Q2 Earnings: Costing Gone Wild

Aya Gold Q2 Earnings: Production Slips Amid Ramp Up

i-80 Gold Q2 Earnings: Better, But Not Great

Recommended

Emerita Resources Expands El Cura Drill Program By 10,000 Metres As Deposit Remains Open For Expansion

ESGold Signs MOU For Tailings Project In Colombia With Grades Up To 42 g/t Gold, 280 g/t Silver

Related News

BMO Lowers Price Target On Teck Resources To $53 Following BC Weather Events

On December 5th, Teck Resources (TSX: TECK.A) provided an update on the British Columbia weather...

Thursday, December 9, 2021, 10:09:00 AM

Lithium: Resource Majors Pile Into Sector Despite Price Collapse

One of the most pointed debates surrounding the electric vehicle (EV) industry is whether lithium,...

Sunday, July 2, 2023, 07:18:00 AM

Teck Resources Provides Revised Guidance For BC Operations Following Severe Weather Events

Teck Resources (TSX: TECK.A) provided an update to the ongoing impact of severe weather events...

Monday, December 6, 2021, 07:55:58 AM

BRIEF: A Dive into the Share Structure of St-Georges Eco-Mining

St-Georges Eco-Mining Corp (CSE: SX) has been the talk of the town for several weeks...

Wednesday, December 27, 2017, 07:00:43 AM

Lithium-ion Battery Cells: Cathodes and Costs

Lithium batteries have been around commercially since 1990. After three decades, you’d think that most...

Wednesday, February 13, 2019, 02:00:04 PM