Rio studying list of takeover targets including Teck Resources, Sky News says

FILE PHOTO: Underground production at Oyu Tolgoi mine in Mongolia·Reuters
Reuters
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(Reuters) -Rio Tinto is studying a refreshed list of takeover targets that includes Canadian miner Teck Resources, Sky News reported on Friday, but a source close to the world's second-largest miner said a bid was not imminent.

Citing unnamed sources, the Sky News report said Rio had drawn up detailed proposals for a potential bid for Teck, which included approaching banks for financing a deal. Rio declined to comment on the report.

Teck, which is valued at nearly 35 billion Canadian dollars ($25.71 billion), according to LSEG data, recently sold its steelmaking coal unit to Swiss commodities trader Glencore in a deal worth about $6.9 billion.

Friday's report that Rio is refreshing its list of possible takeover targets comes weeks after rival BHP walked away from its $49 billion plan to take over rival Anglo American.

($1 = 1.3616 Canadian dollars)

(Reporting by Shivani Tanna in Bengaluru; Additional reporting by Felix Njini; Editing by Sonia Cheema and Helen Popper)