Glencore’s Big Bid for Teck Extends Canada’s Mining-Deal Heritage

(Bloomberg) — Glencore Plc’s $23 billion proposal for Teck Resources Ltd. would mark one of the world’s biggest mining takeovers, if it happens. The deal would be the second-largest mining acquisition in Canada, where some of the industry’s biggest transactions have emerged in the past two decades. Many top-tier Canadian metals producers have disappeared over the years thanks to domestic and foreign takeovers, leaving the country with few remaining mining champions on the global stage. Rio Tinto Group’s 2007 purchase of aluminum-maker Alcan Inc. is the largest takeover of a metals producer in Canada.