Teck fielding expressions of interest for coal business, as Canadian miner considers new restructuring plan

says it is fielding expressions of interest from parties potentially interested in merger-and-acquisition transactions concerning its metallurgical coal business, as Canada’s biggest diversified mining company weighs the best path forward after a botched restructuring plan earlier in the year.

Teck in the aftermath said it would consider a cleaner split of the company but gave few details on what that might look like. Teck did not say what parties had expressed interest in the coal business, and there was no mention of the two known interested suitors, a consortium led by Canadian mining veteran Pierre Lassonde, and Swiss mining and trading house Glencore PLC.

Glencore later indicated it would try again to engage with Teck’s board, and suggested that if that strategy failed, it might take an offer directly to shareholders. But so far, Glencore has not made such a move.

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