April 23, 2013 / 4:04 PM / in 5 years

Teck CEO says major M&A speculation "grossly overblown"

TORONTO (Reuters) - Teck Resources Ltd TCKb.TO is not currently planning a major takeover and will be prudent with the use of its balance sheet, the diversified miner’s chief executive said on Tuesday.

Don Lindsay, president and CEO of Teck Resources, speaks to shareholders during the company's annual general meeting in Vancouver, British Columbia April 22, 2010. REUTERS/Lyle Stafford

“There has been a lot of speculation about us pursuing major M&A transactions and I can tell you this is grossly overblown,” Teck’s Don Lindsay told a conference call with investors.

The Canadian company has been touted as a potential suitor for Rio Tinto Plc’s (RIO.L) iron ore assets in Eastern Canada.

Reporting by Julie Gordon; Editing by Jeffrey Hodgson

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below