Dealmaker Klein Emerges From Credit Suisse Saga With Glencore-Teck Role
- Veteran dealmaker has been advising Glencore on its Teck bid
- Klein previously worked with Glencore as go-between on Xstrata
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Veteran dealmaker Michael Klein has been advising Glencore Plc on its bid to buy Teck Resources Ltd., in his first major role since a failed plan to spearhead the revival of Credit Suisse Group AG’s investment bank.
Glencore has been working with Klein as well as Citigroup Inc. on the deal, according to people familiar with the matter, who asked not to be named as the information isn’t public. Glencore’s pursuit of its Canadian rival is heading for a dramatic climax in the next few days, with Teck’s shareholders set to decide on the company’s plan to spin off its coal mines. The April 26 vote is being seen as a referendum on the Glencore offer, which has so far been rebuffed by Teck’s board.