Glencore makes offer for Teck coal business

(Sharecast News) - Glencore on Monday said it had offered to buy Teck Resources' steelmaking coal business as a standalone unit. The Swiss mining and trading giant said it had made the alternative proposal " as it is expeted to allow for a value accretive demerger of the combined coal and carbon steel materials business".

"We also note continued strong support from shareholders for a transaction between Glencore and Teck," it added.

Reporting by Frank Prenesti for Sharecast.com