Shareholders are gearing up to decide on a groundbreaking plan that could see Anglo American PLC and Teck Resources Ltd. unite to form one of the largest copper mining giants globally.
The initial assembly is slated to be held in London, where a majority vote from Anglo American shareholders is required to greenlight the merger.
In a parallel move, Teck will convene its shareholder gathering in Vancouver later on the same day, with a two-thirds majority approval needed for the deal to progress.
The British and Canadian firms unveiled their vision of a “merger of equals” back in September, outlining an ambitious plan to establish a $70-billion copper mining powerhouse through their collaboration.
Rebranded as Anglo Teck, the merged entity is anticipated to have its headquarters and key decision-makers situated in Vancouver, marking a significant partnership across international borders.
However, the proposed merger is still pending review under the Investment Canada Act, a regulatory measure that safeguards the country’s interests by potentially vetoing deals that are deemed detrimental.