Teck Resources Limited has advised its shareholders to reject an unsolicited 'mini-tender' offer from TRC Capital Corporation. TRC Capital proposed to purchase up to 2.0 million Class B subordinate voting shares, representing approximately 0.41 percent of Teck’s outstanding Class B shares as of May 23, 2025.
The offer price of $47.80 per share represents a 4.46% discount to the closing price of Teck’s Class B shares on the Toronto Stock Exchange on May 20, 2025, the day prior to the offer. Teck explicitly stated it does not endorse TRC's offer and is not associated with the firm or its documentation.
Teck highlighted that mini-tender offers typically seek less than 5% of a company's shares, thereby avoiding many investor protections and disclosure requirements. Shareholders are urged to exercise caution, obtain current market quotations, and consult financial advisors before making any decisions regarding TRC's offer.
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