Rio Tinto (ASX, LON, NYSE: RIO) is said to be studying potential takeover bids for smaller rivals, including Teck Resources (TSX: TECK.A, TECK.B) (NYSE: TECK), Canada’s largest diversified miner, which successfully fended off Glencore’s (LON: GLEN) $23 billion attempt to buy the company last year.
The world’s second largest mining company has held talks with bankers over a potential offer for the Canadian target, but is not immediately planning to launch a bid, Sky News reports citing unnamed sources.
It’s unclear, however, if Canada would allow the Australian miner to acquire Teck. Just last week, Minister of Innovation, Science and Industry François-Philippe Champagne said the government would only greenlight foreign takeovers of its major mining companies “in the most exceptional of circumstances.”
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