In what’s shaping up to be the world’s biggest mining deal of the past decade, Teck Resources Ltd. has agreed to a tie-up with London-headquartered Anglo American PLC to create a copper-focused giant worth about $70 billion.
The companies have proposed the deal as a “merger of equals,” even though Anglo American is worth more than double Teck, as plans include sourcing upper management and board representation roughly equally between the two.
The deal would also see company headquarters of what would be known as Anglo Teck move to Vancouver, as proponents look to sell Canada on the benefits of the deal that will attract regulatory scrutiny….