Teck Resources Volatile Amid Merger Reports

Shares of Teck Resources Ltd (USA) (NYSE: TCK) spiked up over 10 percent Monday afternoon to close at $15.27, following a report that it was exploring a merger with Antofagasta plc (ADR) (OTC: ANFGY).

The news also sent shares of Antofagasta soaring to $23.20, up 8.59 percent.

Shortly after the market close, however, Teck Resources reported that it was not in merger talks with Antofagasta.

Following the company's denial, Teck Resources fell in the after-hours session to $14.17, down 7.2 percent.