The Supreme Court of British Columbia issued a final order on December 12, 2025 approving the merger of equals between Teck Resources Limited and Anglo American plc, creating a new entity that will be renamed Anglo Teck plc. The order confirms that the transaction satisfies the statutory requirements of the Canada Business Corporations Act and is subject to the usual closing conditions, including competition and other regulatory approvals worldwide.
The all‑stock deal is valued at approximately $53 billion and is structured as a nil‑premium merger of equals. Under the terms, Anglo American shareholders will own about 62.4 % of the combined company, while Teck shareholders will hold roughly 37.6 %. Each Teck share will be exchanged for 1.3301 ordinary shares of Anglo Teck, giving the new company a market capitalization that reflects the combined assets of both firms.
Analysts project that the merger will unlock about $800 million in annual pre‑tax recurring synergies and an additional $1.4 billion in average annual EBITDA uplift from the integration of adjacent copper mines in Chile, including Collahuasi and Quebrada Blanca. These synergies are expected to materialize through economies of scale, operational efficiencies, and commercial excellence, positioning Anglo Teck as a top‑five global copper producer and a critical minerals champion for the energy transition.
The strategic rationale centers on copper, a metal essential for electric vehicles, renewable energy infrastructure, and digitalization. By combining Teck’s and Anglo American’s complementary copper portfolios, Anglo Teck will strengthen its competitive position against industry giants such as BHP, Rio Tinto, and Glencore, while also committing to invest at least CAD 4.5 billion over five years in Canadian projects, including the Highland Valley Copper Mine life extension and new copper mines in north‑west British Columbia.
The court approval is a key regulatory milestone, but the merger remains subject to other customary closing conditions, including competition and Investment Canada Act approvals. Management expects final regulatory approvals to be secured in early 2026, after which the combined company will begin operations under the Anglo Teck name. Investors have welcomed the approval, viewing it as a significant step toward creating a leading copper producer that can meet the growing demand driven by the global shift to clean energy.
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