Teck advises shareholders to reject mini-tender offer due to below-market price

From GlobeNewswire: 2025-05-23 17:48:00

Teck Resources Limited has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 2.0 million Class B subordinate voting shares, representing approximately 0.41% of Teck’s outstanding shares. The offer price of $47.80 is a 4.46% discount to the closing price on May 20, 2025. Teck advises shareholders not to tender their shares due to the below-market price offer. TRC’s mini-tender offer is subject to various conditions. Shareholders are urged to exercise caution and consult with financial advisors before making a decision. TRC has made similar unsolicited offers for shares of other companies.

Investors are encouraged to review guidance on mini-tender offers from the Canadian Securities Administrators and the U.S. Securities and Exchange Commission. Shareholders who have tendered their shares can withdraw them before June 18, 2025. Teck requests that TRC include a copy of this news release with all materials related to the mini-tender offer. Forward-looking statements regarding the success and outcomes of the mini-tender are provided. Teck is focused on responsible resource production and stakeholder trust. For more information, visit Teck’s website or contact the investor and media relations contacts listed.



Read more at GlobeNewswire: Teck Recommends that Shareholders Reject “Mini-Tender