Teck Resources (TCK - Get Report) announced a deal to buy Canada's SilverBirch Energy for C$8.50 a share and 1 share of the new company, SilverWillow Energy. SilverBirch shareholders voted to approve the deal, with 39% in favor. With Tech's 9.4% ownership of SilverBirch, the proposal was accepted.
Ford's (F - Get Report) sales in China rose 7% in 2011, while sales for General Motors (GM - Get Report) during the year in China increased 8.3%. Shares of Ford were up 0.5%.
Schnitzer Steel (SCHN - Get Report) is expected by analysts to post fiscal first-quarter earnings of 23 cents a share on Monday.
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