Shares of metals and mining exploration firm Teck Resources (TECK) are up 3.25% or $1.40 per share to $44.60 in afternoon trading on Wednesday, after the firm withdrew its plan to split into two entities, ahead of a shareholder vote, as the miner looks to end the $22.5B takeover attempt from Glencore (GLNCY). Shares of Glencore are also up over 3% at the time of writing.
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Read More on GLNCY:
- Glencore price target lowered to 600 GBp from 602 GBp at Morgan Stanley
- Glencore price target lowered to 610 GBp from 620 GBp at JPMorgan
- Teck Resources price target raised to C$80 from C$70 at Jefferies
- Teck Resources urges shareholders to vote for pending separation
- Greenlight supports Teck plans for split, not Glencore offer, Bloomberg says