Anglo American Plc, the mining group led by South African executive Duncan Wanblad, and Canadas Teck Resources have received overwhelming shareholder approval for a 50 billion merger of the two companies, marking the largest mining deal of the year.
Anglo American secured 99 percent approval from its shareholders, while Tecks class A and class B shareholders backed the deal with more than 99 percent and 90 percent of votes, respectively. The combined company, Anglo Teck, would rank as the worlds fifth-largest copper producer.
Shareholders have given us a strong mandate to take this next step, Wanblad said. Anglo Teck will be well positioned to deliver long-term value in copper, a critical mineral for the energy transition.
