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Canadian-led consortium plans to bid for Teck Resources' coal business

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Canadian mining investor plans bid for Teck Resources\u0027 coal business which could thwart Glencore\u0027s offer. Read more

Canadian mining investor Pierre Lassonde, chair emeritus of Franco-Nevada, told the Financial Times on Tuesday he had assembled a consortium to bid for Teck’s entire coal business.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 have not heard from Teck … If I had a live proposal in front of me, I’d be back in Toronto working my ass off,” he added, explaining that he was on a trip to Europe.Canadian mining investor Pierre Lassondelatest twist in a battleLast month Teck’s board repeatedly rejected Glencore’s hostile bid to acquire the company, saying it wanted to proceed with its own plan to split itself into a metals business and a separate coal company.

 

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