Anglo interested in Teck's base metals business, sources say | Business

Teck Resources has been approached by Vale, Anglo American and Freeport-McMoRanamong others to explore deals for its base metals business if the Canadian copper miner goes ahead with a planned split, sources close to the matter told Reuters on Sunday.

The 'A' class shares in Teck have much more voting power than the 'B' class shares held by institutions. "I believe that pursuing a sale or merger transaction now would rob our shareholders of significant post-separation value," Keevil said in the statement. Glencore on Tuesday modified its $22.5 billion all-share takeover bid for Teck to include up to $8.2 billion in cash, but Teck's board called it"largely unchanged".

Teck investors are due to vote on the miner's restructuring plan on April 26 that will see it spin off its highly polluting coal business and focus on production of copper and zinc.

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