Teck Trades Above Glencore Offer as Other Miners Eye Metals Unit

Teck Resources Ltd. shares surged to a record Monday, exceeding Glencore Plc’s per-share takeover offer price for the first time, as other major mining companies show interest in acquiring the Canadian firm’s metals operations.

The stock gained as much at 9.2% in Toronto after Freeport-McMoRan Inc., Vale SA and Anglo American Plc were reported to be evaluating potential bids for Teck’s base metals business if the firm spins out its coal assets. Norman Keevil, the 85-year-old magnate who controls Teck through “supervoting” Class A shares, said in a Sunday statement that he’d support a transaction on the ...