April 23, 2013 / 3:46 PM / 5 years ago

Teck CEO says major M&A speculation "grossly overblown"

TORONTO, April 23 (Reuters) - Teck Resources Ltd is not currently planning a major takeover and will be prudent with the use of its balance sheet, the diversified miner’s chief executive said on Tuesday.

“There has been a lot of speculation about us pursuing major M&A transactions and I can tell you this is grossly overblown,” Teck’s Don Lindsay told a conference call with investors.

The Canadian company has been touted as a potential suitor for Rio Tinto Plc’s iron ore assets in Eastern Canada.

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