Glencore's bid for Teck spurs call for Canada pensions to up domestic equity stake

Glencore's hostile bid for Teck Resources has galvanised some Canadian institutional investors, who have lobbied the federal government to push the nation's biggest pension funds to lift their exposure to domestic companies, according to a presentation seen by Reuters.

The previous unreported proposal is an unusual move, but mirrors the broader nationalistic sentiment at display in Canada since the Swiss miner's unsolicited approach for one of the country's top mining firms by market value.

Politicians and business lobby groups have asked the federal government to block the $22.5-billion bid and Ottawa has said Glencore would face rigorous scrutiny.