Teck Resources in its merger of equals with Anglo American

On September 9, 2025, Teck Resources Limited and Anglo American plc announced they have reached an agreement to combine the two companies in a merger of equals to form Anglo Teck group, a global critical minerals champion and top five global copper producer, headquartered in Canada.  The merger will be implemented by means of a plan of arrangement through which Anglo American will issue 1.3301 ordinary shares to the existing Teck shareholders in exchange for each outstanding Teck class A common share and class B subordinate voting share.  Anglo American will also declare a special dividend of US $4.5 billion to its shareholders ahead of completion of the merger.  The implied pro forma enterprise value of the transaction is $69 billion.

Wachtell, Lipton, Rosen & Katz is serving as legal advisor to Teck.