Teck Resources Limited (TECK) entered a merger agreement on September 9, 2025, to be acquired by Anglo American plc (AAUKF) in an all-stock deal valued at $33.62 billion.
Each class A common share and class B subordinate voting share of Teck will be exchanged for 1.3301 ordinary shares of Anglo American, implying a value of $42.20 per share. This represents a 20.19% premium over the stock’s last close.
Following the merger, Anglo American shareholders will own about 62.4% of the combined company, while Teck shareholders will own about 37.6%.
Teck Resources is a Canadian resource company headquartered in Vancouver, focused on producing essential metals like copper and zinc, along with steelmaking coal, to support global economic development and the energy transition.
Anglo American is a global mining company headquartered in London, producing copper, iron ore, crop nutrients, and other critical resources that support decarbonization, improved living standards, and food security.
The two companies will combine to form the Anglo Teck group, which will be headquartered in Canada.
Anglo Teck will own a top portfolio of mining operations, including six major copper mines, as well as high-quality iron ore and zinc businesses.
The merger is expected to generate annual pre-tax synergies of about $800 million within four years of completion.
Anglo Teck will be a leading global mining company, with its main headquarters in Vancouver and additional offices in London and Johannesburg.
Key leadership roles will be based in Canada, with Anglo American CEO Duncan Wanblad as CEO, Teck CEO Jonathan Price as Deputy CEO, John Heasley as CFO, and Sheila Murray as Chair.
The Anglo American board plans to pay a special dividend of $4.5 billion (about $4.19 per share) to its shareholders before the merger is completed, which is expected to close within 12-18 months.
Teck Resources received legal advice from Wachtell, Lipton, Rosen & Katz, Stikeman Elliott, and Freshfields, and financial advice from Ardea Partners and BMO Capital Markets.
Anglo American is acquiring Teck at 9.85 times its EBITDA.
For more detailed information related to this merger and acquisition affair, please refer to the Deal Metrics page here:
Deal Metrics for the acquisition of Teck Resources Limited (TECK) by Anglo American plc (AAUKF)
The Deal Metrics page for each merger or acquisition includes:
– A graph representing the spread history of the merger from its announcement to completion or failure.
– A timeline of events as the merger progresses including HSR period expiration, regulatory approvals, shareholder votes, etc.
– News and SEC filings.
– A history of deal updates.
– And much more.
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Editor’s Note: Baranjot Kaur contributed to this article