After a slow first quarter on the dealmaking front, mining M&A is well and truly ramping up as Teck Resources continued to rebuff Glencore PLC’s takeover attempts this week, including a sweetened bid with a cash component.
Teck on Thursday rejected the revised offer from Glencore and made changes to its proposed restructuring plan to allow for the earlier spinout of its metals and coal divisions into separate entities.
Also on Thursday Copper Mountain Mining announced it has agreed to be acquired by Hudbay Minerals in a US$439 million deal, sending the copper miner’s stocks soaring.
Here’s what else moved miners this week: