Teck Resources will focus on obtaining approval to close its proposed merger with Anglo American, Teck’s CEO told Reuters on Tuesday, adding that it wouldn’t be able to control any bidding war the plan could spark.
“We cannot speculate on that (bidding war), and that is not something we can control. We are focused on getting approval for bringing Anglo and Teck together,” Teck CEO Jonathan Price said, adding that the proposed deal represented a compelling proposition for shareholders.
Anglo American and Teck Resources announced a $53-billion merger on Tuesday to create a new global copper-focused heavyweight mining company.