Glencore Deal for Teck Would Face Stringent Review, Trudeau Says
- Prime minister promises ‘consistent’ application of M&A rules
- Vancouver miner has been trying to fend off Glencore approach
Teck Resources Ltd. is a “great company” that’s important to Canada’s economy, and any takeover bid for the miner will have to get through a “rigorous process” to win government approval, Canadian Prime Minister Justin Trudeau said.
The company’s tense fight with Glencore Plc is “certainly something that we’re looking very, very carefully at because it is important to have these great companies in Canada,” Trudeau said Friday in an interview on Bloomberg Television. He promised that, if the government is asked to approve a deal, it will be consistent in applying Canada’s takeover rules “so investors can know what they’re getting into.”