(Bloomberg) — Teck Resources Ltd. received several proposals for deals involving its coal operations, as the Canadian miner works to draw up a new plan for splitting off the business while rejecting a bid from Glencore Plc.
Teck’s plans to exit coal and create a standalone base-metals company suffered a blow in April when it failed to win enough shareholder support for a complicated spinoff proposal. It maintains that separating from its coal assets will create the most value for shareholders, and is now under pressure to develop a plan more appealing than Glencore’s $23 billion offer for the entire company, especially with the prospect of a sweetened bid on the way.