Apart from the future of both companies being at stake, the drama shows huge mining mergers are back on the agenda
Teck Resources CEO Jonathan Price began last week on a blistering note, declaring a $23bn takeover bid from Glencore a “nonstarter” and slamming his mining rival’s history of bribery and risk.
He had reason to be confident: just days earlier, Teck’s controlling investor had said he wouldn’t sell to Glencore, no matter the price. Yet less than one week later, the momentum has shifted sharply in favour of Glencore and its hard-charging SA CEO, Gary Nagle...
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