05:21 AM EST, 11/04/2025 (MT Newswires) -- (Updates with Teck's response in the fifth paragraph and the latest stock movement in the sixth paragraph.)

Rio Tinto (RIO) shareholder Palliser Capital has urged the company to bid for Teck Resources ( TECK ) and unify its dual-listed structure and spin off its base metals operations, Reuters reported Monday, citing a letter to the board sent by Palliser.

Palliser urged Rio to challenge Teck's agreed business combination with Anglo American, the report said, citing the letter.

"Unification is not optional -- it is a prerequisite for any credible strategic combination," Reuters quoted Palliser as saying in the letter.

Rio Tinto's shareholders already rejected the arguments Palliser had recommended regarding its dual listing, the miner told Reuters.

Teck doesn't comment on "market rumors or speculation," a company spokesperson said in a statement e-mailed to MT Newswires, while Rio Tinto and Palliser did not respond.

Rio Tinto were down 2.7% in recent premarket activity Tuesday, while Teck fell 5.1%.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)