Barrick Gold Corp.’s top executive is closely watching the takeover battle for Teck Resources Ltd. but has no plans to pursue the Canadian base metals producer, which has drawn a US$23 billion offer from Glencore Plc.
“We’re certainly learning from it and watching how that progresses,” Barrick Chief Executive Officer Mark Bristow said Wednesday in a BNN Bloomberg TV interview. “Right now we have no intention to join that process.”
Bristow said a lot of people are interested in Teck, though Glencore’s proposal carries a lot of synergies — including coal and copper assets in Chile — that means the deal “makes sense.”
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