Teck Resources (TECK), which rejected an unsolicited bid from Glencore (GLNCY), plans to split off into two independent, publicly-listed companies, Reuters’ Clara Denina and Pratima Desai report. "The board is not contemplating a sale of the company at this time," Teck Chair Sheila Murray said in a letter to Glencore’s board. Teck believes its base metals business, once fully independent, would have a much better chance of attracting a competitive bid than the company in its current form, according to a source familiar with management’s thinking. Reference Link
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