Overview
- Investors at both companies backed the transaction in separate meetings, with Anglo American reporting about 99% support.
- The deal is a nil‑premium, all‑stock merger that will leave Anglo American shareholders with roughly 62.4% of the combined group and Teck holders with 37.6%.
- The combined company will be led from Vancouver and keep a primary listing in London, with secondary listings in Toronto, Johannesburg and New York.
- Authorities in Canada, the United States, Europe, Chile, China, Japan and South Korea must sign off, and Canada can apply a net economic benefit test.
- Antitrust scrutiny will center on copper, where the merged miner would control just under 5% of the market, and Anglo recently scrapped a contentious executive bonus plan ahead of the vote.