Billionaire Friedland warns against foreign takeover of Teck

Billionaire Robert Friedland warned Canada should not take lightly Glencore's attempted takeover of Teck Resources, saying many investors — including himself —would be interested after the miner spins out its coal business.

The Ivanhoe Mines founder said in a series of tweets Monday it would be short-sighted for Teck to sell to Glencore without exploring options. Friedland’s comments come a day after Teck Chairman Emeritus Norman Keevil said he supports a transaction on the right terms after the company splits its base metals and coal businesses.