Teck’s base metals business attracts offers from Freeport, Vale, Anglo

Several firms interested in base metals deals-sourcesControlling Keevil family opposes Glencore dealGlencore could raise Teck offer to C$70/shr – JPM

April 16 (Reuters) – Teck Resources Ltd (TECKb.TO) has been approached by Vale SA (VALE3.SA), Anglo American Plc (AAL.L) and Freeport-McMoRan Inc (FCX.N) among 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 approaches from more than six mining companies interested in transactions if Teck spins off its coal business come as the Vancouver-based miner is fending off an unsolicited takeover offer from Glencore Plc (GLEN.L).

“Following years of strong commodity prices leading to strong balance sheets and low leverage, we expect to see higher M&A activity in the industry over the coming years,” JP Morgan analysts Rodolfo Angele and Lucas Yang…

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