Canada’s Lassonde Plans to Buy Stake in Teck Spinoff: Report

Canadian entrepreneur Pierre Lassonde is planning to buy a stake in Teck Resources Ltd.’s spinoff coal company to protect it from a foreign takeover, the Globe and Mail reported.

The plan comes after Switzerland’s Glencore Plc said this week it is still pursuing its $23 billion proposal to buy Teck, undeterred by rejections from both the mining company’s board and controlling shareholder.

Lassonde, co-founder of Canada’s Franco-Nevada gold royalty company, is an ally of Teck’s controlling shareholder Norman Keevil Jr., the Globe and Mail reported. Lassonde plans to take a large position in the new metallurgical coal ...