Teck Resources and Anglo American Secure Court Approval for Historic Merger

2025-12-13 companies

Vancouver, Friday, 12 December 2025.
On December 12, 2025, the Supreme Court of British Columbia finalized the legal approval for the merger of equals between Teck Resources and Anglo American. This decisive move establishes the framework for “Anglo Teck,” a new Canada-headquartered entity set to become a top-five global copper producer. By consolidating assets, the merged giant will offer investors over 70% exposure to copper, fundamentally reshaping the competitive landscape for critical minerals as the deal moves toward regulatory review in 2026.

A Mandate from Shareholders

The Supreme Court’s decision follows a resounding endorsement from investors earlier this week. On December 9, 2025, Teck Resources (NYSE: TECK) reported that 99.7% of votes cast by Class A shareholders and 89.7% of Class B shareholders supported the plan of arrangement [5][8]. Across the Atlantic, Anglo American shareholders mirrored this enthusiasm, voting 99.17% in favor of the transaction [8]. The deal, valued at approximately $53 billion, is structured as an all-stock transaction that will see Anglo American shareholders owning approximately 62.4% of the combined entity, while Teck shareholders will retain 37.6% [3][4].

Strategic Consolidation and Market Reaction

Upon completion, the combined entity will operate as “Anglo Teck,” maintaining its headquarters in Vancouver, Canada [1][6]. This strategic positioning is designed to create a critical minerals champion with a portfolio heavily weighted toward the energy transition; the new company will offer investors more than 70% exposure to copper [4][7]. Analysts project that the combination of Anglo’s Collahuasi and Teck’s Quebrada Blanca assets could yield over one million tonnes of copper annually by the early 2030s, potentially surpassing the output of BHP’s massive Escondida mine [3]. Financially, the merger is expected to deliver significant efficiencies, with projected annual cost savings of $800 million (C$1.11 billion) by the fourth year post-completion [8].

Navigating the Regulatory Landscape

With the legal and shareholder hurdles within the companies’ control now cleared, the transaction enters a rigorous regulatory phase. Both companies have indicated that they will work closely with authorities throughout 2026 to secure the necessary approvals, including clearance under the Investment Canada Act and various global competition laws [4][5]. The deal has attracted scrutiny in South Africa, where Anglo American has deep historical roots; some local economic advisers have criticized the transaction, arguing it favors Canadian interests despite Anglo’s larger market capitalization [5]. Nevertheless, completion remains subject to these customary closing conditions, with the final integration expected to reshape the global mining hierarchy [1][5].

Sources

Mining Industry Mergers Acquisitions