Teck and Anglo American to combine through merger of equals

Oat_Phawat

Teck Resources (TECK.B:CA) (NYSE:TECK [https://seekingalpha.com/symbol/TECK]) and Anglo American (OTCQX:AAUKF [https://seekingalpha.com/symbol/AAUKF]) (OTCQX:NGLOY [https://seekingalpha.com/symbol/NGLOY]) on Tuesday said that they have reached an agreement to combine the two companies in a merger of equals to form the Anglo Teck group, a global critical minerals company headquartered in Canada.

The Anglo-Teck merger is expected to provide over 70% exposure to copper and generate $800 million in pre-tax annual synergies through the combination.

An additional $1.4 billion annual average underlying EBITDA uplift is expected from synergies between the adjacent Collahuasi and Quebrada Blanca operations on an average pre-tax annual basis from 2030 to 2049, which is expected to result in an increase of 175,000 tonnes of potential additional annual copper production.

The companies announced a special dividend to Anglo American shareholders of $4.5 billion, $4.19 per share, ahead of completion.

Anglo American shareholders to own 62.4% and Teck shareholders to own 37.6% of Anglo Teck plc immediately post completion.

MORE ON TECK RESOURCES LIMITED, ANGLO AMERICAN PLC

* Teck Resources: From Coal To Copper And Beyond [https://seekingalpha.com/article/4812932-teck-resources-stock-from-coal-to-copper-and-beyond-hold-for-now]
* Teck Resources Limited (TECK) Q2 2025 Earnings Call Transcript [https://seekingalpha.com/article/4804140-teck-resources-limited-teck-q2-2025-earnings-call-transcript]
* Concrete Steps For The New Anglo American; Buy Confirmed [https://seekingalpha.com/article/4800868-concrete-steps-new-anglo-american-buy-confirmed]
* Anglo-Teck merger to face Investment Canada review, says minister [https://seekingalpha.com/news/4493236-anglo-teck-merger-to-face-investment-canada-review-says-minister]
* Anglo American sells remaining Valterra Platinum stake for $2.5B [https://seekingalpha.com/news/4492299-anglo-american-sells-remaining-valterra-platinum-stake-for-25b]