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Canada set to approve Glencore takeover of Teck coal business, The Globe and Mail reports
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Canada set to approve Glencore takeover of Teck coal business, The Globe and Mail reports
Jul 4, 2024 4:20 PM

July 4 (Reuters) - Canada's federal government is set to

approve Glencore's ( GLCNF ) acquisition of the steelmaking coal

unit of Teck Resources ( TECK ) with several legally binding

conditions, the Globe and Mail reported on Thursday.

The government is planning to approve the deal as soon as

Thursday, the report added citing sources close to the

transaction.

Teck and Glencore ( GLCNF ) did not immediately respond to Reuters

request for comment.

Glencore ( GLCNF ) announced in November last year that it had agreed

to buy a 77% stake in the Canadian miner's steelmaking coal

business for $6.93 billion.

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