Obtaining information, News learned that Rio’s new list of takeover targets includes the Canadian company Teck Resources, which could have a major impact on the sector. Rio is listed in both Sydney and London.
According to insiders in the city, Rio had prepared comprehensive plans for a possible takeover of Teck, including reaching out to banks on possible funding.
According to bankers, Teck Resources would be valued at far over $30 billion (£23.2 billion) in any plausible approach, and maybe as much as $32 billion.
On Friday, it was unclear, though, if Rio would decide to contact Teck formally in the end.
A source close to the London-listed business stated that while it was on a list of potential targets, it was not preparing to make an immediate bid for Teck Resources.
a little Following the completion of this week’s sale of its coal operation to Glencore for a little under $7 billion, Teck is now a pureplay miner with an emphasis on copper and other metals crucial to the energy revolution.
There are rumors that other international miners are also considering buying Teck, but any foreign offer would have to go through a rigorous screening process and possibly meet strict requirements set by the Canadian government.
