(Adds details from the press release and comment from Board chair, Glencore declining comment)
April 26 (Reuters) - Copper miner Teck Resources on Wednesday said it has withdrawn its proposed restructuring plan ahead of a shareholder vote on the proposal.
Teck's shareholders were voting on Wednesday on the proposed split of Teck's metals and coal business. The company said it will now follow a "direct" approach to the separation.
Teck's separation would have put an end to the unsolicited $22.5 billion
proposed merger offer
by Swiss company Glencore Plc. Teck CEO Jonathan Price on Wednesday said that the proposed offer by Glencore remains a non-starter.
"The Board will focus on incorporating the feedback heard into a revised value-enhancing separation to maximize value for shareholders,” said Sheila Murray, Chair of the Board, Teck.
Glencore declined to comment on Teck's move to call off its planned separation.
(Reporting by Mrinalika Roy in Bengaluru; Divya Rajagopal in Toronto and Clara Denina in London. Editing by Sriraj Kalluvila and Chizu Nomiyama)
