Einhorn’s Greenlight Supports Teck Plan Over Glencore Takeover

David Einhorn’s hedge fund Greenlight Capital said it supports Teck Resources Ltd.’s plan to split itself up over Glencore Plc’s proposed takeover, which it says doesn’t offer a compelling premium.

“The Glencore deal isn’t interesting because despite them trying to call it a merger, it’s a takeover and the premium isn’t compelling,” a company representative said Friday in an email. “If Teck were to pursue a deal, it should launch a competitive process.”

Greenlight also said the Keevil family should relinquish control of Teck “right away” to show shareholders that the company is operating in good faith and ...