Exclusive-Glencore CEO to meet Teck shareholders in Toronto in bid for deal support
6:21 pm Monday, April 10th, 2023
By Divya Rajagopal
TORONTO (Reuters) – Glencore Plc Chief Executive Gary Nagle plans to meet with some of Teck Resources Ltd’s Canadian shareholders in Toronto this Thursday to personally lobby them for support of Glencore’s proposed takeover of the copper and zinc miner, according to a source who was invited. Royal Bank of Canada’s RBC Capital Markets will host the Toronto lunch meeting, according to Jonathan Case of CI Global Asset Management, a Teck shareholder who was invited. RBC has been one of Glencore’s bankers in the past.
Teck’s executives on Monday reinforced their rejection of Glencore’s unsolicited $22.5 billion takeover offer.
Glencore declined to comment. Teck could not immediately be reached for comment.
(Reporting by Divya Rajagopal in Toronto; Editing by Ernest Scheyder and Lisa Shumaker)
