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Anglo American and Teck Agree All‑Share Merger to Create $50–$53 Billion Copper Group

Completion awaits shareholder approvals followed by a 12 to 18 month regulatory review.

Overview

  • Anglo Teck will be headquartered in Vancouver with a primary London listing, retaining corporate offices in London and Johannesburg and seeking listings in Toronto and New York.
  • Anglo American shareholders will own about 62.4% of the combined company and Teck investors 37.6%, with CEO Duncan Wanblad leading and Teck’s Jonathan Price serving as deputy CEO.
  • Anglo will pay a $4.5 billion special dividend to its shareholders before closing, and the companies target roughly $800 million in recurring annual cost savings by year four.
  • The combined miner is set to rank among the top five global copper producers at roughly 1.2 million tonnes a year, with major synergies expected from integrating adjacent Quebrada Blanca and Collahuasi assets in Chile.
  • Approvals include reviews under Canada’s Investment Canada Act and separate Teck Class A and B votes, with irrevocable support from holders of about 79.8% of Teck’s A shares and a $330 million break fee disclosed.