Teck Resources Ltd.’s board of directors has rejected the latest takeover offer from Swiss company Glencore.
The Canadian mining company said Thursday the revised offer is not in the best interest of shareholders.
Teck said its board and management team remained committed to its plan announced in February to split up its metal and steelmaking coal businesses into two companies, Teck Metals and Elk Valley Resources.
Glencore revised its unsolicited offer for Teck earlier this week to include an $8.2-billion US cash component. The proposal would see Teck shareholders receive 24 per cent of the combined metals company, and cash.


