Teck Shareholders Approve Wind-Down of Dual-Class Shares (3)

Teck Resources Ltd. shareholders overwhelmingly voted on Wednesday to wind down the dual-class share structure that has long made the Canadian miner immune to large takeover deals.

The vote capped a pivotal day for one of Canada’s largest mining companies, with Teck scrapping a shareholder vote on plans to split its metals and coal businesses while maintaining ts opposition to Glencore Plc’s unsolicited $23 billion takeover bid. Still, the vote end Teck’s dual-class structure over six years stayed on the agenda, with investors endorsing the plan that will end the Keevil family’s grip on the firm.

Investors, lawyers, company ...