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Glencore PLC’s latest bid for Teck Resources Ltd was rebuffed, with the New York-listed firm still preferring to go about its own separation plan.
Teck said an independent special committee of its board said the latest Glencore proposal ‘is not in the best interests of Teck or its shareholders’.
‘Glencore has made two opportunistic and unrealistic proposals that would transfer significant value to Glencore at the expense of Teck shareholders,’ Teck Chair Sheila Murray said. ‘Teck’