Why Teck Resources is set for a King Solomon act next week


Source: vancouverisawesome.com vancouverisawesome.com

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Shareholders torn between two offers to split the company in two Teck Resources (TSX:TECK.B, NYSE:TECK) shareholders are in the middle of a vigorous tug-of-war between two different plans to cleave the company in two. It all comes to a head Wednesday, when Teck shareholders will vote at a special meeting on Teck’s dual plan to: a) phase out its dual share class structure; and b) break the Canadian mining company into two separate companies – one owning B.C.’s steelmaking coal mines and the other owning copper and zinc mines. Swiss giant Glencore has made a US$23 billion ($31 billion Canadian)...