Glencore faces nasty political fight to win Teck as Ottawa signals it wants at least one home-grown metals champion


Source: theglobeandmail.com theglobeandmail.com

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Canadian politicians, the background players in Glencore’s GLNCY battle for Vancouver’s Teck Resources TECK-B-T, are suddenly becoming assertive. And they don’t like what they interpret as yet another attempt to gut Corporate Canada. Glencore might win the blessings of Teck shareholders – but winning Ottawa’s blessing is another story, as governments try to protect head offices and keep the critical minerals needed for the energy revolution on home soil. Glencore, a Swiss commodities giant, has made two pitches since March to merge with Teck, Canada’s last remaining diversified mining company of significant size. Both were resoundingly rejected by the board....