© Reuters. FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann
By Divya Rajagopal
TORONTO (Reuters) – Glencore (OTC:) Plc Chief Executive Gary Nagle plans to meet with some of Teck Resources (NYSE:) Ltd’s Canadian shareholders in Toronto this Thursday to personally lobby them for support of Glencore’s proposed takeover of the and zinc miner, according to a source who was invited. Royal Bank of Canada’s RBC Capital Markets will host the Toronto lunch meeting, according to Jonathan Case of CI Global Asset Management, a Teck shareholder who was invited. RBC has been one of Glencore’s bankers in the past.
Teck’s executives on Monday reinforced their rejection of Glencore’s unsolicited $22.5 billion takeover offer.
Glencore declined to comment. Teck could not immediately be reached for comment.
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