Anglo American, Teck Resources to merge in largest mining deal of decade

London-listed Anglo American has agreed to merge with Canada’s Teck Resources in a monumental $53 billion deal to create a new mining powerhouse.

In the merged entity—named Anglo Teck—Anglo American shareholders will own approximately 62.4% while Teck shareholders will hold 37.6%.

The new company will be headquartered in Canada, with its primary stock listing in London, and will also pursue listings in key financial markets.

Expected cost synergies reach about $800 million annually by the fourth year post-merger, amid soaring global copper demand driven by EVs and AI infrastructure.

The move represents the largest mining sector merger in over a decade, underscoring strategic alignment amid rising commodity needs, as reported by Reuters.

read more: https://finance.yahoo.com/news/anglo-american-combine-canadas-teck-062805872.html?utm_source=chatgpt.com

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