...entitled Teck CEO criticizes Glencore’s proposed takeover as a ‘complete non-starter’

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“Mr. [Teck Resources CEO] Price said the nationalistic argument expounded by Mr. Keevil is not part of the board’s calculus, adding that the main lens in looking at the deal is whether it’s good for shareholders.

Several analysts think that Glencore will increase its offer for Teck, as early as this week. Even though Mr. Keevil has made it clear that he won’t budge, analysts say the strategy could nudge holders of Teck’s B-shares to vote down its proposed split, and indirectly signal to Teck’s board that they may be open to the approach from Glencore.

Mr. Price declined to comment on whether the company could be swayed by a higher takeover offer from Glencore.

“We can’t speculate on what Glencore may or may not do,” he said.”

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That’s Glencore’s MO: low bid first to see what the reaction is, then a higher bid later.

Keevil is waving the Canadian flag; not necessarily a bad thing but I think it conceals his real desire not to go down in history as the Keevil who oversees the end of an enterprise his family spent generations building up.

Complete article, subscription required:

https://www.theglobeandmail.com/business/article-teck-ceo-criticizes-glencores-proposed-takeover-as-a-complete-non/

Also:

Norman B. Keevil’s last stand

https://www.theglobeandmail.com/business/article-norman-keevil-teck-glencore/